Eldon Durrett Memorial Scholarship Fund

Analysis

Eldon Durrett Memorial Scholarship Fund is a registered charity in United States, based in Amarillo, TX. It received its IRS tax-exemption ruling in June 1953, 73 years ago. 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 August 2023, Eldon Durrett Memorial Scholarship Fund reported income of $124k and spending of $34k, leaving 72% of income unspent that year. Across the 4 years on record, from August 2020 to August 2023, income grew from $33k to $124k (+277%), an average of +56% a year. The sharpest change came in the year to August 2022, when income rose by 669%. Over the whole period it spent 37% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Eldon Durrett Memorial Scholarship Fund sits at the 42nd percentile: it is larger than about 42% of them. Against every charity in United States with reported income it ranks in the 42nd percentile, and in the 46th percentile within TX. Charities of a similar size with the same main cause include Morgans Place Cemetery Inc ($124k), TBB Scholarships Inc ($124k) and Friends of MSF at Uga Inc ($124k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 82% of the total. At year end it held assets of $1.6m against liabilities of $2,680, net assets of $1.6m.