Milky Way Educational and Cultural Association

Analysis

Milky Way Educational and Cultural Association is a registered charity in United States, based in Fairfax, VA. It received its IRS tax-exemption ruling in November 2018, 8 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 December 2022, Milky Way Educational and Cultural Association reported income of $120k and spending of $100k, spending 83% of its income. Across the 4 years on record, from December 2019 to December 2022, income grew from $68k to $120k (+77%), an average of +21% a year. The sharpest change came in the year to December 2022, when income rose by 54%. Over the whole period it spent 77% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Milky Way Educational and Cultural Association sits at the 37th percentile: it is larger than about 37% of them. Against every charity in United States with reported income it ranks in the 42nd percentile, and in the 41st percentile within VA. Charities of a similar size with the same main cause include Valorfit ($120k), S & R Positive Influence Consultants ($120k) and Brendens Friday Back Pack ($120k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 100% of the total. At year end it held assets of $90k against liabilities of $1,100, net assets of $89k.