Matthew and Karen Cullen Family Foundation

Analysis

Matthew and Karen Cullen Family Foundation is a registered charity in United States, based in Detroit, MI. It received its IRS tax-exemption ruling in July 2018, 8 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. The IRS classifies it as a supporting organisation (type i) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Matthew and Karen Cullen Family Foundation reported income of $283k and spending of $187k, leaving 34% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.7m to $283k (-83%), an average of -36% a year. The sharpest change came in the year to December 2021, when income dropped by 130%. Over the whole period it spent 16% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Matthew and Karen Cullen Family 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 61st percentile, and in the 61st percentile within MI. Charities of a similar size with the same main cause include Headington Institute Foundation ($283k), Transformational Opportunities Inc ($283k) and United Way of Nelson County Inc ($283k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.1% of the total. At year end it held assets of $7.2m against liabilities of $187k, net assets of $7.0m.