Emenike-Ogunnaike Charitable Foundation Inc

Analysis

Emenike-Ogunnaike Charitable Foundation Inc is a registered charity in United States, based in Sherman Oaks, CA. It received its IRS tax-exemption ruling in March 2017, 9 years ago. Its declared purposes cover education, which this site groups under education and training. 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 2020, Emenike-Ogunnaike Charitable Foundation Inc reported income of $1.1m and spending of $302k, leaving 73% of income unspent that year. Across the 2 years on record, from December 2019 to December 2020, income grew from $460k to $1.1m (+146%), an average of +146% a year. The sharpest change came in the year to December 2020, when income rose by 146%. Over the whole period it spent 23% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Emenike-Ogunnaike Charitable Foundation Inc sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 81st percentile within CA. Charities of a similar size with the same main cause include Lone Star Conference ($1.1m), The Randolph Christian School Society Inc ($1.1m) and Citychurch Outreach Ministry ($1.1m).

On its Form 990 for the period ending December 2020, revenue came from contributions and grants 98% of the total. At year end it held assets of $1.5m against liabilities of $2,257, net assets of $1.5m.