Panhandle Oilmens Foundation Inc

Analysis

Panhandle Oilmens Foundation Inc is a registered charity in United States, based in Amarillo, TX. It received its IRS tax-exemption ruling in August 2016, 10 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Panhandle Oilmens Foundation Inc reported income of $79k and spending of $64k, spending 81% of its income. Across the 2 years on record, from December 2022 to December 2023, income fell from $226k to $79k (-65%), an average of -65% a year. The sharpest change came in the year to December 2023, when income dropped by 65%. Over the whole period it spent 96% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Panhandle Oilmens Foundation Inc sits at the 27th percentile: it is larger than about 27% of them. Against every charity in United States with reported income it ranks in the 31st percentile, and in the 32nd percentile within TX. Charities of a similar size with the same main cause include Defenders of the Unborn ($79k), Dartmouth Friends of TH Elderly Inc ($79k) and Grace Place Anna ($79k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 131% of the total. At year end it held assets of $35k against liabilities of $0, net assets of $35k.