Mighell Fund Inc

Analysis

Mighell Fund Inc is a registered charity in United States, based in Aurora, IL. It received its IRS tax-exemption ruling in September 1964, 62 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Mighell Fund Inc reported income of $1.8m and spending of $2.1m, spending 116% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income grew from $1.6m to $1.8m (+13%), an average of +4.3% a year. The sharpest change came in the year to June 2021, when income rose by 23%. Over the whole period it spent 108% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Mighell Fund Inc 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 85th percentile, and in the 84th percentile within IL. Charities of a similar size with the same main cause include New Horizons Inc ($1.8m), National Network of Abortion Funds ($1.8m) and Creative Housing III Inc ($1.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 1.8% and program service revenue 95% of the total. Compensation of current officers, directors and key employees was $105k (5.1% of expenses). Other salaries and wages came to $865k. At year end it held assets of $4.0m against liabilities of $260k, net assets of $3.7m. It reported 55 employees.