506 Foundation Inc

Analysis

506 Foundation Inc is a registered charity in United States, based in Altamont, KS. It received its IRS tax-exemption ruling in November 2003, 23 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 June 2023, 506 Foundation Inc reported income of $74k and spending of $54k, leaving 27% of income unspent that year. Across the 4 years on record, from June 2020 to June 2023, income grew from $31k to $74k (+143%), an average of +34% a year. The sharpest change came in the year to June 2021, when income rose by 434%. Over the whole period it spent 51% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, 506 Foundation Inc sits at the 32nd percentile: it is larger than about 32% of them. Against every charity in United States with reported income it ranks in the 29th percentile, and in the 27th percentile within KS. Charities of a similar size with the same main cause include Torey J Sabatini Public Elementary School Parent Teacher Organization ($74k), Lamont Memorial Free Library ($75k) and Miss Nevada Scholarship Foundation Inc ($74k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 74% of the total. Compensation of current officers, directors and key employees was $6,758 (12% of expenses). At year end it held assets of $720k against liabilities of $0, net assets of $720k.