Great Minds in STEM

Analysis

Great Minds in STEM is a registered charity in United States, based in Commerce, CA. It received its IRS tax-exemption ruling in August 1996, 30 years ago. Its declared purposes cover public and societal benefit, which this site groups under other charitable purposes. 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 December 2023, Great Minds in STEM reported income of $2.6m and spending of $3.0m, spending 117% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $3.8m to $2.6m (-33%), an average of -9.7% a year. The sharpest change came in the year to December 2020, when income dropped by 43%. Over the whole period it spent 106% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Great Minds in STEM sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 88th percentile within CA. Charities of a similar size with the same main cause include Asociacion de Salud Primaria de Puerto Rico Inc ($2.6m), Associated Builders & Contractors of Iowa Trust ($2.6m) and Association of American Indian Physicians Inc ($2.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 17% and program service revenue 77% of the total. Compensation of current officers, directors and key employees was $50k (1.7% of expenses). Other salaries and wages came to $809k. At year end it held assets of $2.5m against liabilities of $782k, net assets of $1.7m. It reported 16 employees.