Iola Foundation

Analysis

Iola Foundation is a registered charity in United States, based in Los Angeles, CA. It received its IRS tax-exemption ruling in July 2008, 18 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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, Iola Foundation reported income of $2.5m and spending of $4.2m, spending 166% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.2m to $2.5m (+13%), an average of +3.1% a year. The sharpest change came in the year to December 2021, when income rose by 77%. Over the whole period it spent 98% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Iola Foundation sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 88th percentile within CA. Charities of a similar size with the same main cause include Cigar Family Charitable Foundation Inc ($2.5m), Eastern West Virginia Community Foundation ($2.5m) and Veterans Outreach ($2.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $189k (4.5% of expenses). Other salaries and wages came to $1.4m. At year end it held assets of $920k against liabilities of $120k, net assets of $800k. It reported 16 employees.