Purpose Foundation

Analysis

Purpose Foundation is a registered charity in United States, based in Island Park, NY. It received its IRS tax-exemption ruling in September 2010, 16 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, Purpose Foundation reported income of $4.3m and spending of $4.9m, spending 114% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $5.0m to $4.3m (-14%), an average of -3.6% a year. The sharpest change came in the year to December 2020, when income rose by 135%. Over the whole period it spent 99% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Purpose Foundation sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 89th percentile within NY. Charities of a similar size with the same main cause include Oostburg Christian School Association ($4.3m), Rosati-Kain Academy ($4.3m) and Northside Center for Child Developement Day School ($4.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% and program service revenue 2.0% of the total. Compensation of current officers, directors and key employees was $100k (2.0% of expenses). Other salaries and wages came to $133k. At year end it held assets of $587k against liabilities of $212k, net assets of $374k. It reported 2 employees.

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.