Psi Iota XI Charities Inc

Analysis

Psi Iota XI Charities Inc is a registered charity in United States, based in Muncie, IN. It received its IRS tax-exemption ruling in May 1989, 37 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 May 2024, Psi Iota XI Charities Inc reported income of $77k and spending of $103k, spending 135% of what it took in. Across the 5 years on record, from May 2020 to May 2024, income fell from $91k to $77k (-15%), an average of -4.1% a year. The sharpest change came in the year to May 2023, when income dropped by 46%. Over the whole period it spent 91% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Psi Iota XI Charities Inc sits at the 30th percentile: it is larger than about 30% of them. Against every charity in United States with reported income it ranks in the 30th percentile, and in the 27th percentile within IN. Charities of a similar size with the same main cause include Peabody Memorial Library ($77k), Village Cooperative School Inc ($77k) and Old Town Arts and Crafts Guild Inc ($77k).

On its Form 990 for the period ending May 2024, revenue came from contributions and grants 55% of the total. Compensation of current officers, directors and key employees was $3,508 (3.4% of expenses). Other salaries and wages came to $425. At year end it held assets of $1.1m against liabilities of $390, net assets of $1.1m. 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.