Ely Educational Foundation Inc

Analysis

Ely Educational Foundation Inc is a registered charity in United States, based in Ely, MN. It received its IRS tax-exemption ruling in August 1993, 33 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 2024, Ely Educational Foundation Inc reported income of $63k and spending of $135k, spending 214% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income fell from $75k to $63k (-16%), an average of -4.3% a year. The sharpest change came in the year to June 2022, when income rose by 89%. Over the whole period it spent 111% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Ely Educational Foundation Inc sits at the 24th percentile: it is larger than about 24% of them. Against every charity in United States with reported income it ranks in the 25th percentile, and in the 21st percentile within MN. Charities of a similar size with the same main cause include Country Dance & Song Society Inc ($63k), Whittier Art Association ($63k) and Linda Vista Multi-Cultural Fair Inc ($63k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 39% of the total. At year end it held assets of $1.1m against liabilities of $0, net assets of $1.1m.