Charles Drew Memorial Scholarship Fund Inc

Analysis

Charles Drew Memorial Scholarship Fund Inc is a registered charity in United States, based in Capitol HGTS, MD. It received its IRS tax-exemption ruling in May 1998, 28 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 December 2023, Charles Drew Memorial Scholarship Fund Inc reported income of $70k and spending of $72k, spending 102% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $59k to $70k (+19%), an average of +19% a year. The sharpest change came in the year to December 2023, when income rose by 19%. Over the whole period it spent 118% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Charles Drew Memorial Scholarship Fund Inc sits at the 30th percentile: it is larger than about 30% of them. Against every charity in United States with reported income it ranks in the 28th percentile, and in the 29th percentile within MD. Charities of a similar size with the same main cause include Dogwood Elementary School Parent Teacher Organization ($70k), William Howard Taft Athletic Booster Club ($70k) and The Hoffman Education Center for the Family ($70k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. It paid $1,500 in professional fundraising fees. At year end it held assets of $240k against liabilities of $0, net assets of $240k.