James Megellas Foundation Inc

Analysis

James Megellas Foundation Inc is a registered charity in United States, based in Mount Hope, WV. It received its IRS tax-exemption ruling in March 2012, 14 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 June 2023, James Megellas Foundation Inc reported income of $1.3m and spending of $5.6m, spending 432% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $5.3m to $1.3m (-75%), an average of -30% a year. The sharpest change came in the year to June 2023, when income dropped by 64%. Over the whole period it spent 130% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, James Megellas Foundation Inc sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 80th percentile within WV. Charities of a similar size with the same main cause include New Castle Christian Academy Inc ($1.3m), Livingwell Institute ($1.3m) and Josephine Community Library Foundation ($1.3m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. At year end it held assets of $7.1m against liabilities of $7.2m, net assets of -$78k.

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.