Mylan Park Foundation Inc

Analysis

Mylan Park Foundation Inc is a registered charity in United States, based in Morgantown, WV. It received its IRS tax-exemption ruling in November 1999, 27 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, Mylan Park Foundation Inc reported income of $4.6m and spending of $7.8m, spending 170% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $4.4m to $4.6m (+4.9%), an average of +1.2% a year. The sharpest change came in the year to December 2020, when income rose by 138%. Over the whole period it spent 107% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Mylan Park Foundation Inc sits at the 89th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 92nd percentile within WV. Charities of a similar size with the same main cause include Readworks Inc ($4.6m), Compass Academy ($4.6m) and TLC Learning Center Inc ($4.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 13% and program service revenue 81% of the total. Compensation of current officers, directors and key employees was $112k (1.4% of expenses). Other salaries and wages came to $1.4m. At year end it held assets of $64.8m against liabilities of $38.1m, net assets of $26.6m. It reported 44 employees.

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.