Robert & Janice McNair Educational Foundation

Analysis

Robert & Janice McNair Educational Foundation is a registered charity in United States, based in Forest City, NC. It received its IRS tax-exemption ruling in May 1990, 36 years ago. 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, Robert & Janice McNair Educational Foundation reported income of $2.1m and spending of $3.1m, spending 146% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $4.7m to $2.1m (-55%), an average of -18% a year. The sharpest change came in the year to June 2021, when income rose by 275%. Over the whole period it spent 33% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Robert & Janice McNair Educational Foundation sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 87th percentile within NC. Charities of a similar size with the same main cause include Matthews Help Center ($2.1m), Framingham State University Foundation Inc ($2.1m) and Union County Family Young Mens Christian Association ($2.1m).

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 $155k (5.0% of expenses). Other salaries and wages came to $1.1m. At year end it held assets of $37.5m against liabilities of $0, net assets of $37.5m. It reported 12 employees.