Steele Memorial Benefit Association

Analysis

Steele Memorial Benefit Association is a registered charity in United States, based in Salmon, ID. It received its IRS tax-exemption ruling in August 1977, 49 years ago. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Steele Memorial Benefit Association reported income of $66k and spending of $84k, spending 127% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income fell from $105k to $66k (-37%), an average of -11% a year. The sharpest change came in the year to September 2020, when income rose by 87%. Over the whole period it spent 144% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Steele Memorial Benefit Association sits at the 26th percentile: it is larger than about 26% of them. Against every charity in United States with reported income it ranks in the 26th percentile, and in the 22nd percentile within ID. Charities of a similar size with the same main cause include Community College Humanities Association ($66k), Lemon Bay Garden Club Inc ($66k) and The International Anglican Fellowship ($66k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $153k against liabilities of $0, net assets of $153k.

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.