Developing Minds Foundation Corporation

Analysis

Developing Minds Foundation Corporation is a registered charity in United States, based in Miami, FL. It received its IRS tax-exemption ruling in November 2006, 20 years ago. Its declared purposes cover international, foreign affairs and national security, which this site groups under overseas aid and international. 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, Developing Minds Foundation Corporation reported income of $122k and spending of $57k, leaving 53% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $49k to $122k (+146%), an average of +146% a year. The sharpest change came in the year to December 2023, when income rose by 146%. Over the whole period it spent 72% of the income it received.

Among 10,317 United States charities whose main cause is overseas aid and international and that reported income, Developing Minds Foundation Corporation sits at the 39th percentile: it is larger than about 39% of them. Against every charity in United States with reported income it ranks in the 42nd percentile, and in the 46th percentile within FL. Charities of a similar size with the same main cause include The American Committees on Foreign Relations ($122k), World Dental Relief Inc ($122k) and Shared Humanity Inc ($122k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 93% of the total. At year end it held assets of $504k against liabilities of $0, net assets of $504k.