Israel Magen Fund Inc

Analysis

Israel Magen Fund Inc is a registered charity in United States, based in Montebello, NY. It received its IRS tax-exemption ruling in October 2017, 9 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 2022, Israel Magen Fund Inc reported income of $710k and spending of $811k, spending 114% of what it took in. Across the 4 years on record, from December 2019 to December 2022, income fell from $986k to $710k (-28%), an average of -10% a year. The sharpest change came in the year to December 2021, when income dropped by 28%. Over the whole period it spent 104% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Israel Magen Fund Inc sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 71st percentile within NY. Charities of a similar size with the same main cause include Child and Family Research and Training Institute ($710k), Arizona Association for Foster and Adoptive Parents ($710k) and Charity Crossing Inc ($709k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $20k (2.4% of expenses). Other salaries and wages came to $28k. At year end it held assets of $3,751 against liabilities of $161k, net assets of -$157k. It reported 1 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.