Iovine and Young Foundation

Analysis

Iovine and Young Foundation is a registered charity in United States, based in Los Angeles, CA. It received its IRS tax-exemption ruling in July 2022, 4 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, Iovine and Young Foundation reported income of $1.9m and spending of $948k, leaving 50% of income unspent that year. Over the whole period it spent 106% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Iovine and Young Foundation sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 86th percentile within CA. Charities of a similar size with the same main cause include Snow Farm-The New England Craft Program Inc ($1.9m), Summit Academy Transition High School Dayton ($1.9m) and Lakeland-Andover School ($1.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $146k. At year end it held assets of $726k against liabilities of $962k, net assets of -$236k. It reported 1 employees.