Mentor Ring Corp

Analysis

Mentor Ring Corp is a registered charity in United States, based in Sunny Isles, FL. It received its IRS tax-exemption ruling in May 2016, 10 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Mentor Ring Corp reported income of $233k and spending of $241k, spending 103% of its income. Across the 3 years on record, from December 2021 to December 2023, income grew from $203k to $233k (+15%), an average of +7.1% a year. The sharpest change came in the year to December 2023, when income rose by 39%. Over the whole period it spent 104% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Mentor Ring Corp sits at the 51st percentile: it is larger than about 51% of them. Against every charity in United States with reported income it ranks in the 57th percentile, and in the 60th percentile within FL. Charities of a similar size with the same main cause include Tiny Hands Daycare Center Inc ($233k), Windham Neighbors Helping Neighbors ($233k) and Old Road Fund Inc ($233k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 91% of the total. At year end it held assets of $8,750 against liabilities of $1,620, net assets of $7,130.