Drexel Funds

Analysis

Drexel Funds is a registered charity in United States, based in South Bend, IN. It received its IRS tax-exemption ruling in November 2014, 12 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a private non-operating foundation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2021, Drexel Funds reported income of $8.5m and spending of $4.2m, leaving 51% of income unspent that year. Across the 3 years on record, from June 2019 to June 2021, income grew from $4.4m to $8.5m (+94%), an average of +39% a year. The sharpest change came in the year to June 2020, when income rose by 140%. Over the whole period it spent 57% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Drexel Funds sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 95th percentile within IN. Charities of a similar size with the same main cause include Athlos Academy of St Cloud ($8.5m), Learningspring School ($8.5m) and Matthews Charter Academy ($8.5m).

On its Form 990 for the period ending June 2021, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $302k (7.2% of expenses). Other salaries and wages came to $387k. At year end it held assets of $18.5m against liabilities of $971k, net assets of $17.6m. It reported 5 employees.