Montana Higher Education Student Assistance Corporation

Analysis

Montana Higher Education Student Assistance Corporation is a registered charity in United States, based in Helena, MT. It received its IRS tax-exemption ruling in March 1983, 43 years ago. Its declared purposes cover education, which this site groups under education and training. 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 June 2024, Montana Higher Education Student Assistance Corporation reported income of $24.5m and spending of $27.5m, spending 112% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income grew from $24.2m to $24.5m (+1.2%), an average of +0.3% a year. The sharpest change came in the year to June 2023, when income rose by 59%. Over the whole period it spent 108% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Montana Higher Education Student Assistance Corporation sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within MT. Charities of a similar size with the same main cause include Synapse School ($24.5m), Community Partnership Charter School ($24.5m) and Open Up Resources ($24.5m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 3.0% and program service revenue 93% of the total. Compensation of current officers, directors and key employees was $14k (0.1% of expenses). At year end it held assets of $320.6m against liabilities of $242.3m, net assets of $78.4m.

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.