Masterminds Academy

Analysis

Masterminds Academy is a registered charity in United States, based in Kingstree, SC. It received its IRS tax-exemption ruling in July 2023, 3 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 2023, Masterminds Academy reported income of $67k and spending of $65k, spending 97% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $54k to $67k (+25%), an average of +25% a year. The sharpest change came in the year to December 2023, when income rose by 25%. Over the whole period it spent 98% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Masterminds Academy sits at the 23rd percentile: it is larger than about 23% of them. Against every charity in United States with reported income it ranks in the 26th percentile, and in the 33rd percentile within SC. Charities of a similar size with the same main cause include Down Syndrome Association of the Lowcountry ($67k), Hanson Food Pantry Inc ($67k) and Strides Therapeutic Horsemanshipcenter ($67k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $1 against liabilities of $0, net assets of $1.