Namic Mutual Insurance Foundation

Analysis

Namic Mutual Insurance Foundation is a registered charity in United States, based in Indianapolis, IN. It received its IRS tax-exemption ruling in February 2018, 8 years ago. Its declared purposes cover education, which this site groups under education and training. 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 April 2023, Namic Mutual Insurance Foundation reported income of $389k and spending of $157k, leaving 60% of income unspent that year. Across the 2 years on record, from April 2022 to April 2023, income grew from $107k to $389k (+264%), an average of +264% a year. The sharpest change came in the year to April 2023, when income rose by 264%. Over the whole period it spent 32% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Namic Mutual Insurance Foundation sits at the 65th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 66th percentile within IN. Charities of a similar size with the same main cause include Zichron Eliyahu Memorial Foundation Inc ($388k), Routt County Riders ($389k) and Gulf Coast Education Initiative Consortium Inc ($388k).

On its Form 990 for the period ending April 2023, revenue came from contributions and grants 96% of the total. At year end it held assets of $498k against liabilities of $1,038, net assets of $497k.