Carnival Educational Fund Inc

Analysis

Carnival Educational Fund Inc is a registered charity in United States, based in Memphis, TN. It received its IRS tax-exemption ruling in June 1988, 38 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 July 2023, Carnival Educational Fund Inc reported income of $581k and spending of $567k, spending 98% of its income. Across the 3 years on record, from July 2019 to July 2023, income grew from $523k to $581k (+11%), an average of +5.4% a year. The sharpest change came in the year to July 2022, when income rose by 92%. Over the whole period it spent 97% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Carnival Educational Fund Inc sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 74th percentile within TN. Charities of a similar size with the same main cause include Sunyit Student Association ($581k), Zambias Scholarship Fund ($581k) and Aisc Education Foundation ($581k).

On its Form 990 for the period ending July 2023, revenue came from contributions and grants 37% and program service revenue 63% of the total. Other salaries and wages came to $76k. At year end it held assets of $339k against liabilities of $109k, net assets of $230k.