Chi Omega Foundation

Analysis

Chi Omega Foundation is a registered charity in United States, based in Memphis, TN. It received its IRS tax-exemption ruling in August 1978, 48 years ago. 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 April 2024, Chi Omega Foundation reported income of $12.6m and spending of $4.8m, leaving 62% of income unspent that year. Across the 5 years on record, from April 2020 to April 2024, income grew from $11.2m to $12.6m (+13%), an average of +3.2% a year. The sharpest change came in the year to April 2024, when income rose by 54%. Over the whole period it spent 53% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Chi Omega Foundation sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within TN. Charities of a similar size with the same main cause include Candelen ($12.6m), The San Francisco School ($12.7m) and Benchmark School ($12.6m).

On its Form 990 for the period ending April 2024, revenue came from contributions and grants 85% and program service revenue 1.2% of the total. Compensation of current officers, directors and key employees was $226k (4.7% of expenses). Other salaries and wages came to $624k. It paid $77k in professional fundraising fees. At year end it held assets of $57.5m against liabilities of $933k, net assets of $56.6m. It reported 12 employees.