Athenaeum Foundation Inc

Analysis

Athenaeum Foundation Inc is a registered charity in United States, based in Indianapolis, IN. It received its IRS tax-exemption ruling in November 1991, 35 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Athenaeum Foundation Inc reported income of $3.2m and spending of $1.5m, leaving 55% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.2m to $3.2m (+179%), an average of +29% a year. The sharpest change came in the year to December 2023, when income rose by 113%. Over the whole period it spent 71% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Athenaeum Foundation Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 90th percentile within IN. Charities of a similar size with the same main cause include William M Yarbrough Foundation ($3.2m), Davis Family Foundation ($3.2m) and Bird City Century II Development Foundation ($3.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 47% and program service revenue 2.8% of the total. Compensation of current officers, directors and key employees was $125k (8.6% of expenses). Other salaries and wages came to $356k. At year end it held assets of $4.5m against liabilities of $160k, net assets of $4.3m. It reported 15 employees.