Novi Educational Foundation

Analysis

Novi Educational Foundation is a registered charity in United States, based in Novi, MI. It received its IRS tax-exemption ruling in June 1986, 40 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 2023, Novi Educational Foundation reported income of $102k and spending of $148k, spending 145% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $186k to $102k (-45%), an average of -14% a year. The sharpest change came in the year to June 2022, when income rose by 119%. Over the whole period it spent 77% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Novi Educational Foundation sits at the 37th percentile: it is larger than about 37% of them. Against every charity in United States with reported income it ranks in the 37th percentile, and in the 37th percentile within MI. Charities of a similar size with the same main cause include Free Will Baptist Retirement Homes Inc ($102k), Clay Township Indep Volunteer Fire Dept of Bartholomew County Inc ($102k) and National Institute of Governmental Purchasing Inc ($102k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 46% of the total. At year end it held assets of $1.1m against liabilities of $187k, net assets of $961k.