M B Swayze Educational Foundation

Analysis

M B Swayze Educational Foundation is a registered charity in United States, based in Jackson, MS. It received its IRS tax-exemption ruling in June 1979, 47 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending April 2023, M B Swayze Educational Foundation reported income of $434k and spending of $649k, spending 150% of what it took in. Across the 5 years on record, from April 2019 to April 2023, income grew from $392k to $434k (+11%), an average of +2.6% a year. The sharpest change came in the year to April 2023, when income rose by 101%. Over the whole period it spent 148% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, M B Swayze Educational Foundation sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 68th percentile, and in the 69th percentile within MS. Charities of a similar size with the same main cause include The First Stone Ministries Inc ($434k), Chinmaya Mission of Orlando Inc ($434k) and Sino American Buddhist Cultural Center Inc-Fa Kwang Temple ($434k).

On its Form 990 for the period ending April 2023, revenue came from contributions and grants 63% and program service revenue 37% of the total. Compensation of current officers, directors and key employees was $17k (2.6% of expenses). Other salaries and wages came to $174k. At year end it held assets of $197k against liabilities of $2.3m, net assets of -$2.1m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.