Michael Diamond Charitable Foundation Inc

Analysis

Michael Diamond Charitable Foundation Inc is a registered charity in United States, based in Long Beach, NY. It received its IRS tax-exemption ruling in March 2024, 2 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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, Michael Diamond Charitable Foundation Inc reported income of $153k and spending of $133k, spending 87% of its income. Across the 4 years on record, from December 2020 to December 2023, income grew from $65k to $153k (+134%), an average of +33% a year. The sharpest change came in the year to December 2021, when income rose by 137%. Over the whole period it spent 86% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Michael Diamond Charitable Foundation Inc sits at the 45th percentile: it is larger than about 45% of them. Against every charity in United States with reported income it ranks in the 48th percentile, and in the 46th percentile within NY. Charities of a similar size with the same main cause include Hope Included ($153k), Barre Area Development Inc ($153k) and Downtown Fort Lauderdale Tma Inc ($153k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $105k against liabilities of $0, net assets of $105k.