Granite Education Foundation Inc

Analysis

Granite Education Foundation Inc is a registered charity in United States, based in S Salt Lake, UT. It received its IRS tax-exemption ruling in June 1985, 41 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 June 2023, Granite Education Foundation Inc reported income of $4.4m and spending of $4.2m, spending 97% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $5.2m to $4.4m (-16%), an average of -4.3% a year. The sharpest change came in the year to June 2023, when income rose by 44%. Over the whole period it spent 102% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Granite Education Foundation Inc sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 90th percentile within UT. Charities of a similar size with the same main cause include Childhood Development Services Inc ($4.4m), Empirical Resolution Inc ($4.4m) and The RP Group Inc ($4.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 98% of the total. Compensation of current officers, directors and key employees was $140k (3.3% of expenses). Other salaries and wages came to $411k. At year end it held assets of $3.6m against liabilities of $382k, net assets of $3.2m.