Nick Cannon Foundation Inc

Analysis

Nick Cannon Foundation Inc is a registered charity in United States, based in Beverly Hills, CA. It received its IRS tax-exemption ruling in August 2015, 11 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 December 2023, Nick Cannon Foundation Inc reported income of $170k and spending of $175k, spending 103% of its income. Across the 2 years on record, from December 2022 to December 2023, income fell from $200k to $170k (-15%), an average of -15% a year. The sharpest change came in the year to December 2023, when income dropped by 15%. Over the whole period it spent 100% of the income it received.

Among 14,332 United States charities whose main cause is children and youth development and that reported income, Nick Cannon Foundation Inc sits at the 56th percentile: it is larger than about 56% of them. Against every charity in United States with reported income it ranks in the 50th percentile, and in the 52nd percentile within CA. Charities of a similar size with the same main cause include Free Enterprise Institute ($170k), Sparc-Center for the Study of Boys and Girls Lives ($170k) and Youth Educational Services ($170k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $1,902 against liabilities of $0, net assets of $1,902.