Alexander and Eva Nemeth Foundation Inc

Analysis

Alexander and Eva Nemeth Foundation Inc is a registered charity in United States, based in San Marcos, CA. It received its IRS tax-exemption ruling in December 2016, 10 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 private non-operating foundation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Alexander and Eva Nemeth Foundation Inc reported income of $1.5m and spending of $1.5m, spending 103% of its income. Across the 4 years on record, from December 2020 to December 2023, income grew from $1.3m to $1.5m (+11%), an average of +3.5% a year. The sharpest change came in the year to December 2022, when income rose by 49%. Over the whole period it spent 93% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Alexander and Eva Nemeth Foundation Inc sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 84th percentile within CA. Charities of a similar size with the same main cause include National Institute Forpharmaceutical Technology and Educa ($1.5m), Sequoia Foundation ($1.5m) and New Hope Charities Inc ($1.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $320k (21% of expenses). Other salaries and wages came to $130k. At year end it held assets of $115k against liabilities of $7,033, net assets of $108k. It reported 4 employees.

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.