Fidm Scholarship Foundation Inc

Analysis

Fidm Scholarship Foundation Inc is a registered charity in United States, based in Pasadena, CA. It received its IRS tax-exemption ruling in April 1979, 47 years ago. 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 August 2023, Fidm Scholarship Foundation Inc reported income of $927k and spending of $3.9m, spending 422% of what it took in. Across the 5 years on record, from August 2019 to August 2023, income grew from $602k to $927k (+54%), an average of +11% a year. The sharpest change came in the year to August 2023, when income rose by 320%. Over the whole period it spent 249% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Fidm Scholarship Foundation Inc sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 79th percentile within CA. Charities of a similar size with the same main cause include Arts Council Inc ($927k), Threshold Inc ($927k) and YMCA of Ponce Inc Ponce ($927k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 62% of the total. Other salaries and wages came to $30k. At year end it held assets of $909k against liabilities of $11k, net assets of $898k. It reported 18 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.