Marengo Area Schools Education Foundation Inc

Analysis

Marengo Area Schools Education Foundation Inc is a registered charity in United States, based in Marengo, IL. It received its IRS tax-exemption ruling in September 1992, 34 years ago. 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 June 2024, Marengo Area Schools Education Foundation Inc reported income of $69k and spending of $56k, spending 82% of its income. Across the 6 years on record, from June 2019 to June 2024, income grew from $45k to $69k (+53%), an average of +8.8% a year. The sharpest change came in the year to June 2021, when income rose by 773%. Over the whole period it spent 85% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Marengo Area Schools Education Foundation Inc sits at the 27th percentile: it is larger than about 26% of them. Against every charity in United States with reported income it ranks in the 27th percentile, and in the 28th percentile within IL. Charities of a similar size with the same main cause include The Maidstone Charitable Trust ($69k), PTA Tennessee Congress of Parents & Teachers Inc ($69k) and Richmond Rotary Charitable Foundation ($69k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 23% of the total. At year end it held assets of $1.1m against liabilities of $0, net assets of $1.1m.