Canton Student Loan Foundation

Analysis

Canton Student Loan Foundation is a registered charity in United States, based in Canton, OH. It received its IRS tax-exemption ruling in January 1945, 81 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 June 2024, Canton Student Loan Foundation reported income of $1.9m and spending of $227k, leaving 88% of income unspent that year. Across the 5 years on record, from June 2020 to June 2024, income grew from $551k to $1.9m (+246%), an average of +36% a year. The sharpest change came in the year to June 2024, when income rose by 100%. Over the whole period it spent 24% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Canton Student Loan Foundation sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 86th percentile within OH. Charities of a similar size with the same main cause include In Touch Mission International Inc ($1.9m), Huntington YMCA Foundation Inc ($1.9m) and Kentucky Future Farmers of America Foundation Inc ($1.9m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 69% and program service revenue 12% of the total. Compensation of current officers, directors and key employees was $75k (33% of expenses). Other salaries and wages came to $56k. At year end it held assets of $15.9m against liabilities of $98k, net assets of $15.8m. It reported 3 employees.