Philmat Inc

Analysis

Philmat Inc is a registered charity in United States, based in New Orleans, LA. It received its IRS tax-exemption ruling in March 1946, 80 years ago. Its declared purposes cover food, agriculture and nutrition, which this site groups under poverty relief. 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 2023, Philmat Inc reported income of $4.3m and spending of $5.0m, spending 116% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $5.0m to $4.3m (-14%), an average of -3.7% a year. Over the whole period it spent 105% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Philmat Inc sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 91st percentile within LA. Charities of a similar size with the same main cause include Center for Urban Families Inc ($4.3m), Safe Berks ($4.3m) and Fish of Vancouver ($4.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 98% of the total. Compensation of current officers, directors and key employees was $102k (2.1% of expenses). Other salaries and wages came to $1.8m. At year end it held assets of $3.5m against liabilities of $919k, net assets of $2.6m. It reported 75 employees.