Maryland Institute

Analysis

Maryland Institute is a registered charity in United States, based in Baltimore, MD. It received its IRS tax-exemption ruling in September 1935, 91 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending May 2023, Maryland Institute reported income of $122.2m and spending of $122.6m, spending 100% of its income. Across the 5 years on record, from May 2019 to May 2023, income fell from $126.4m to $122.2m (-3.4%), an average of -0.9% a year. The sharpest change came in the year to May 2022, when income rose by 47%. Over the whole period it spent 98% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Maryland Institute sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within MD. Charities of a similar size with the same main cause include Western Michigan University Homer Stryker M D School of Medicine ($122.2m), Charleston Southern University ($122.5m) and Harvey Mudd College ($122.0m).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 9.8% and program service revenue 87% of the total. Compensation of current officers, directors and key employees was $3.7m (3.0% of expenses). Other salaries and wages came to $40.0m. It paid $6,893 in professional fundraising fees. At year end it held assets of $319.8m against liabilities of $99.5m, net assets of $220.3m. It reported 1,865 employees.