Lex Memorial Scholarship Fund

Analysis

Lex Memorial Scholarship Fund is a registered charity in United States, based in Floyd, VA. It received its IRS tax-exemption ruling in June 1991, 35 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 December 2023, Lex Memorial Scholarship Fund reported income of $66k and spending of $32k, leaving 52% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $41k to $66k (+64%), an average of +13% a year. The sharpest change came in the year to December 2021, when income rose by 446%. Over the whole period it spent 79% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Lex Memorial Scholarship Fund sits at the 29th percentile: it is larger than about 29% of them. Against every charity in United States with reported income it ranks in the 26th percentile, and in the 25th percentile within VA. Charities of a similar size with the same main cause include Blanchet Catholic School Foundation ($66k), Parkside Elementary PTO ($66k) and Hammond Public Library ($66k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 66% of the total. At year end it held assets of $544k against liabilities of $0, net assets of $544k.