Educate Lanka Foundation Inc

Analysis

Educate Lanka Foundation Inc is a registered charity in United States, based in Gaithersburg, MD. It received its IRS tax-exemption ruling in January 2013, 13 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Educate Lanka Foundation Inc reported income of $100k and spending of $261k, spending 261% of what it took in. Across the 4 years on record, from December 2020 to December 2023, income fell from $600k to $100k (-83%), an average of -45% a year. The sharpest change came in the year to December 2021, when income dropped by 87%. Over the whole period it spent 75% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Educate Lanka Foundation Inc sits at the 39th percentile: it is larger than about 39% of them. Against every charity in United States with reported income it ranks in the 37th percentile, and in the 38th percentile within MD. Charities of a similar size with the same main cause include Destination Education a Scholarship Foundation ($100k), Dynamic Enrichment Network ($100k) and Oklahoma Health Sciences Facility ($100k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 23% and program service revenue 73% of the total. Compensation of current officers, directors and key employees was $125k (48% of expenses). At year end it held assets of $284k against liabilities of $1,540, net assets of $282k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.