Southern Initiative of the Algebra Project Inc

Analysis

Southern Initiative of the Algebra Project Inc is a registered charity in United States, based in Summerville, SC. It received its IRS tax-exemption ruling in May 2003, 23 years ago. Its declared purposes cover education, which this site groups under education and training. 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 December 2023, Southern Initiative of the Algebra Project Inc reported income of $463k and spending of $500k, spending 108% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $826k to $463k (-44%), an average of -14% a year. The sharpest change came in the year to December 2020, when income dropped by 53%. Over the whole period it spent 108% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Southern Initiative of the Algebra Project Inc sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 74th percentile within SC. Charities of a similar size with the same main cause include Spring Township Library Association ($463k), Neo-Futurists ($463k) and University at Buffalo Medical Student Polity Inc ($463k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 54% and program service revenue 45% of the total. Compensation of current officers, directors and key employees was $108k (22% of expenses). Other salaries and wages came to $19k. At year end it held assets of $54k against liabilities of $0, net assets of $54k. It reported 1 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.