Florida Methodist Foundation Inc

Analysis

Florida Methodist Foundation Inc is a registered charity in United States, based in Lakeland, FL. It received its IRS tax-exemption ruling in November 1966, 60 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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, Florida Methodist Foundation Inc reported income of $7.2m and spending of $7.1m, spending 98% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $6.6m to $7.2m (+9.1%), an average of +2.2% a year. The sharpest change came in the year to December 2023, when income rose by 29%. Over the whole period it spent 94% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Florida Methodist Foundation Inc sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 95th percentile within FL. Charities of a similar size with the same main cause include Libitzky Family Foundation ($7.2m), International Fellowship of Evangelical Students USA Inc ($7.3m) and Impact Network Inc ($7.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 1.7% and program service revenue 86% of the total. Compensation of current officers, directors and key employees was $950k (13% of expenses). Other salaries and wages came to $650k. At year end it held assets of $235.3m against liabilities of $221.1m, net assets of $14.2m. It reported 15 employees.