Myfuturenc Inc

Analysis

Myfuturenc Inc is a registered charity in United States, based in Raleigh, NC. It received its IRS tax-exemption ruling in November 2019, 7 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 December 2023, Myfuturenc Inc reported income of $3.9m and spending of $3.7m, spending 96% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.2m to $3.9m (+210%), an average of +33% a year. The sharpest change came in the year to December 2020, when income rose by 239%. Over the whole period it spent 62% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Myfuturenc Inc sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 92nd percentile within NC. Charities of a similar size with the same main cause include Library and Information Resources Network Inc ($3.9m), Walnut Hill Properties Corporation ($3.9m) and Maine Mathematics and Science Alliance ($3.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% of the total. Compensation of current officers, directors and key employees was $396k (11% of expenses). Other salaries and wages came to $1.4m. At year end it held assets of $6.5m against liabilities of $60k, net assets of $6.4m. It reported 19 employees.