Canale Foundation Inc

Analysis

Canale Foundation Inc is a registered charity in United States, based in Memphis, TN. It received its IRS tax-exemption ruling in March 1997, 29 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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 April 2023, Canale Foundation Inc reported income of $249k and spending of $230k, spending 92% of its income. Across the 5 years on record, from April 2019 to April 2023, income fell from $401k to $249k (-38%), an average of -11% a year. The sharpest change came in the year to April 2023, when income dropped by 80%. Over the whole period it spent 67% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Canale Foundation Inc sits at the 62nd percentile: it is larger than about 62% of them. Against every charity in United States with reported income it ranks in the 58th percentile, and in the 59th percentile within TN. Charities of a similar size with the same main cause include Guardian Angels for Special Populations Inc ($249k), Eizer Chaim Yom Tov Inc ($249k) and Yad Chazaka Corp ($249k).

At year end it held assets of $20.2m against liabilities of $975, net assets of $20.2m.