Magdalene College Foundation

Analysis

Magdalene College Foundation is a registered charity in United States, based in Worcester, MA. It received its IRS tax-exemption ruling in May 2013, 13 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, Magdalene College Foundation reported income of $1.5m and spending of $1.5m, spending 97% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $547k to $1.5m (+180%), an average of +29% a year. The sharpest change came in the year to December 2022, when income rose by 156%. Over the whole period it spent 104% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Magdalene College Foundation sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 82nd percentile within MA. Charities of a similar size with the same main cause include National Institute for Medical Assistant Advancement Inc ($1.5m), Rising Star Academy of NJ a NJ Nonprofit Corporation ($1.5m) and Nsoro Foundation Inc ($1.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $74k against liabilities of $0, net assets of $74k.