Florida Agricultural & Mechanical Univ Foundation Inc

Analysis

Florida Agricultural & Mechanical Univ Foundation Inc is a registered charity in United States, based in Tallahassee, FL. It received its IRS tax-exemption ruling in June 1967, 59 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 2024, Florida Agricultural & Mechanical Univ Foundation Inc reported income of $36.8m and spending of $22.8m, leaving 38% of income unspent that year. Across the 5 years on record, from June 2020 to June 2024, income grew from $11.1m to $36.8m (+233%), an average of +35% a year. The sharpest change came in the year to June 2021, when income rose by 108%. Over the whole period it spent 55% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Florida Agricultural & Mechanical Univ Foundation Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within FL. Charities of a similar size with the same main cause include Helix Charter High School ($36.8m), Browning School ($36.9m) and Edward Waters University Inc ($36.8m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 76% of the total. Compensation of current officers, directors and key employees was $747k (3.3% of expenses). Other salaries and wages came to $2.6m. At year end it held assets of $206.8m against liabilities of $1.1m, net assets of $205.7m.