The Miami Foundation Inc

Analysis

The Miami Foundation Inc is a registered charity in United States, based in Miami, FL. It received its IRS tax-exemption ruling in October 1992, 34 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 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, The Miami Foundation Inc reported income of $133.5m and spending of $79.0m, leaving 41% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $71.2m to $133.5m (+87%), an average of +17% a year. The sharpest change came in the year to December 2021, when income rose by 100%. Over the whole period it spent 71% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, The Miami Foundation Inc sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within FL. Charities of a similar size with the same main cause include Gates Philanthropy Partners ($132.4m), Robin Hood Foundation ($134.5m) and Sjouwerman Foundation Inc ($129.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 89% and program service revenue 0.9% of the total. Compensation of current officers, directors and key employees was $1.4m (1.7% of expenses). Other salaries and wages came to $2.4m. At year end it held assets of $525.0m against liabilities of $35.6m, net assets of $489.4m. It reported 53 employees.