Mitral Foundation

Analysis

Mitral Foundation is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in October 2009, 17 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. 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 December 2023, Mitral Foundation reported income of $6.4m and spending of $873k, leaving 86% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.2m to $6.4m (+184%), an average of +30% a year. The sharpest change came in the year to December 2023, when income rose by 330%. Over the whole period it spent 41% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Mitral Foundation sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 91st percentile within NY. Charities of a similar size with the same main cause include The Boggy Creek Gang Inc ($6.4m), Womens Christian Association of Kansas City Missouri ($6.4m) and New Horizons Mental Health Services Inc ($6.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% and program service revenue 1.9% of the total. Other salaries and wages came to $215k. At year end it held assets of $7.4m against liabilities of $0, net assets of $7.4m.