Ironwood Area Scholarship Foundation

Analysis

Ironwood Area Scholarship Foundation is a registered charity in United States, based in Ironwood, MI. It received its IRS tax-exemption ruling in February 1989, 37 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 2024, Ironwood Area Scholarship Foundation reported income of $113k and spending of $39k, leaving 65% of income unspent that year. Across the 5 years on record, from June 2020 to June 2024, income fell from $166k to $113k (-32%), an average of -9.3% a year. The sharpest change came in the year to June 2021, when income dropped by 38%. Over the whole period it spent 67% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Ironwood Area Scholarship Foundation sits at the 39th percentile: it is larger than about 39% of them. Against every charity in United States with reported income it ranks in the 40th percentile, and in the 40th percentile within MI. Charities of a similar size with the same main cause include Orange County Police Canine Association ($113k), California Study Inc ($113k) and PTA Delaware Congress ($113k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 17% of the total. At year end it held assets of $2.0m against liabilities of $0, net assets of $2.0m.