Educare Foundation

Analysis

Educare Foundation is a registered charity in United States, based in Van Nuys, CA. It received its IRS tax-exemption ruling in September 1991, 35 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Educare Foundation reported income of $11.6m and spending of $11.9m, spending 103% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $5.9m to $11.6m (+96%), an average of +18% a year. The sharpest change came in the year to June 2022, when income rose by 59%. Over the whole period it spent 98% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Educare Foundation sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within CA. Charities of a similar size with the same main cause include Wesley Village Inc ($11.6m), Habitat for Humanity International Inc ($11.6m) and American Academy of Child & Adoles ($11.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $319k (2.7% of expenses). Other salaries and wages came to $7.8m. At year end it held assets of $3.3m against liabilities of $1.4m, net assets of $1.9m. It reported 552 employees.