Foundation for Manufacturing Excellence

Analysis

Foundation for Manufacturing Excellence is a registered charity in United States, based in Mount Airy, MD. It received its IRS tax-exemption ruling in December 2015, 11 years ago. Its declared purposes cover education, which this site groups under education and training. 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 September 2023, Foundation for Manufacturing Excellence reported income of $1.2m and spending of $881k, leaving 27% of income unspent that year. Across the 5 years on record, from September 2019 to September 2023, income grew from $449k to $1.2m (+169%), an average of +28% a year. The sharpest change came in the year to September 2021, when income rose by 85%. Over the whole period it spent 73% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Foundation for Manufacturing Excellence sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 80th percentile within MD. Charities of a similar size with the same main cause include Montessori School of Central Vermont Inc ($1.2m), Heritage Academy Incorporated ($1.2m) and Caloosa Humane Society Inc ($1.2m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 50% of the total. Other salaries and wages came to $131k. At year end it held assets of $1.9m against liabilities of $249k, net assets of $1.6m. It reported 1 employees.