The Foundation for Education Inc

Analysis

The Foundation for Education Inc is a registered charity in United States, based in Denver, NC. It received its IRS tax-exemption ruling in May 2008, 18 years ago. Its declared purposes cover education, which this site groups under education and training. 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 June 2023, The Foundation for Education Inc reported income of $1.9m and spending of $2.3m, spending 118% of what it took in. Across the 6 years on record, from June 2018 to June 2023, income grew from $1.8m to $1.9m (+7.6%), an average of +1.5% a year. The sharpest change came in the year to June 2021, when income dropped by 44%. Over the whole period it spent 112% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, The Foundation for Education Inc sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 87th percentile within NC. Charities of a similar size with the same main cause include Patrick Henry Academy Inc ($1.9m), 3c Corporation ($1.9m) and George Foundation ($1.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.6% and program service revenue 84% of the total. At year end it held assets of $36.6m against liabilities of $32.5m, net assets of $4.0m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.