Institute for Multicultural Counseling and Education Services

Analysis

Institute for Multicultural Counseling and Education Services is a registered charity in United States, based in Los Angeles, CA. It received its IRS tax-exemption ruling in March 1996, 30 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 June 2023, Institute for Multicultural Counseling and Education Services reported income of $6.0m and spending of $7.6m, spending 127% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $6.5m to $6.0m (-7.3%), an average of -1.9% a year. The sharpest change came in the year to June 2020, when income rose by 21%. Over the whole period it spent 104% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Institute for Multicultural Counseling and Education Services sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 93rd percentile within CA. Charities of a similar size with the same main cause include Chapel Hill Academy Inc ($6.0m), Baptist Retirement Communities of Georgia ($6.0m) and Cedar Creek Schools ($6.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% and program service revenue 0.1% of the total. Compensation of current officers, directors and key employees was $236k (3.1% of expenses). Other salaries and wages came to $4.5m. At year end it held assets of $4.6m against liabilities of $5.7m, net assets of -$1.1m. It reported 77 employees.