Preston Memorial Foundation I Incorporated

Analysis

Preston Memorial Foundation I Incorporated is a registered charity in United States, based in Kingwood, WV. It received its IRS tax-exemption ruling in August 1997, 29 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Preston Memorial Foundation I Incorporated reported income of $111k and spending of $43k, leaving 61% of income unspent that year. Across the 6 years on record, from June 2019 to December 2023, income fell from $140k to $111k (-21%), an average of -4.6% a year. The sharpest change came in the year to December 2023, when income rose by 450%. Over the whole period it spent 25% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Preston Memorial Foundation I Incorporated sits at the 45th percentile: it is larger than about 45% of them. Against every charity in United States with reported income it ranks in the 40th percentile, and in the 36th percentile within WV. Charities of a similar size with the same main cause include Meadowbrook Athletic and Band Booster Corporation ($111k), Neighbors Fundraising for Neighbors Inc ($111k) and Hackberry Duckoff ($111k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 47% of the total. At year end it held assets of $1.5m against liabilities of $162, net assets of $1.5m.