Knoxville Academy of Medicine Foundation

Analysis

Knoxville Academy of Medicine Foundation is a registered charity in United States, based in Knoxville, TN. It received its IRS tax-exemption ruling in November 1989, 37 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 December 2023, Knoxville Academy of Medicine Foundation reported income of $2.0m and spending of $2.3m, spending 116% of what it took in. Across the 3 years on record, from December 2021 to December 2023, income grew from $26k to $2.0m (+7566%), an average of +776% a year. The sharpest change came in the year to December 2022, when income rose by 8184%. Over the whole period it spent 95% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Knoxville Academy of Medicine 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 TN. Charities of a similar size with the same main cause include Bethlehem Baptist Church ($2.0m), Santa Monica RHF Housing Inc ($2.0m) and Habitat for Humanity International Inc ($2.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 93% and program service revenue 7.0% of the total. Other salaries and wages came to $1.0m. At year end it held assets of $1.8m against liabilities of $826k, net assets of $960k.