McMahon-Parater Scholarship Foundation

Analysis

McMahon-Parater Scholarship Foundation is a registered charity in United States, based in Richmond, VA. It received its IRS tax-exemption ruling in July 2008, 18 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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 June 2024, McMahon-Parater Scholarship Foundation reported income of $6.1m and spending of $10.5m, spending 172% of what it took in. Across the 6 years on record, from June 2019 to June 2024, income grew from $5.3m to $6.1m (+15%), an average of +2.8% a year. The sharpest change came in the year to June 2023, when income rose by 117%. Over the whole period it spent 97% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, McMahon-Parater Scholarship Foundation sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 93rd percentile within VA. Charities of a similar size with the same main cause include Freedom in Christ Inc ($6.1m), Eagles Wings International Inc ($6.1m) and The Global Self Foundation ($6.1m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 94% of the total. At year end it held assets of $6.2m against liabilities of $280k, net assets of $6.0m.