Altamed Foundation

Analysis

Altamed Foundation is a registered charity in United States, based in Commerce, CA. It received its IRS tax-exemption ruling in December 1987, 39 years ago. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Altamed Foundation reported income of $4.8m and spending of $1.4m, leaving 70% of income unspent that year. Across the 3 years on record, from December 2021 to December 2023, income fell from $50.2m to $4.8m (-91%), an average of -69% a year. The sharpest change came in the year to December 2022, when income dropped by 91%. Over the whole period it spent 4.7% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Altamed Foundation sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 92nd percentile within CA. Charities of a similar size with the same main cause include Treasure Valley Transit Inc ($4.8m), The Lifespace Foundation ($4.8m) and North East Multi-Regional Training Inc ($4.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 81% of the total. At year end it held assets of $56.8m against liabilities of $287k, net assets of $56.5m.