Sumaira Foundation

Analysis

Sumaira Foundation is a registered charity in United States, based in Somerville, MA. It received its IRS tax-exemption ruling in December 2014, 12 years ago. Its declared purposes cover medical research, which this site groups under health and saving lives. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Sumaira Foundation reported income of $1.8m and spending of $1.5m, spending 85% of its income. Across the 4 years on record, from December 2020 to December 2023, income grew from $158k to $1.8m (+1015%), an average of +123% a year. The sharpest change came in the year to December 2022, when income rose by 370%. Over the whole period it spent 84% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Sumaira Foundation sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 84th percentile within MA. Charities of a similar size with the same main cause include LA Vie Center ($1.8m), Mali Wellness Foundation ($1.8m) and Alternatives for Better Living ($1.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 105% of the total. Compensation of current officers, directors and key employees was $588k (39% of expenses). At year end it held assets of $717k against liabilities of $219k, net assets of $498k.