Shred Foundation

Analysis

Shred Foundation is a registered charity in United States, based in Beacon, NY. It received its IRS tax-exemption ruling in September 2014, 12 years ago. Its declared purposes cover youth development, which this site groups under children and youth development. 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 July 2023, Shred Foundation reported income of $122k and spending of $109k, spending 89% of its income. Across the 2 years on record, from July 2022 to July 2023, income fell from $205k to $122k (-40%), an average of -40% a year. The sharpest change came in the year to July 2023, when income dropped by 40%. Over the whole period it spent 92% of the income it received.

Among 14,332 United States charities whose main cause is children and youth development and that reported income, Shred Foundation sits at the 48th percentile: it is larger than about 48% of them. Against every charity in United States with reported income it ranks in the 42nd percentile, and in the 41st percentile within NY. Charities of a similar size with the same main cause include Sultan School District Foundation ($122k), Pop Inc ($122k) and Fostering Hope in Michigan ($122k).

On its Form 990 for the period ending July 2023, revenue came from contributions and grants 77% and program service revenue 23% of the total. Compensation of current officers, directors and key employees was $43k (40% of expenses). At year end it held assets of $118k against liabilities of $90k, net assets of $28k. It reported 1 employees.