Mychals Learning Place

Analysis

Mychals Learning Place is a registered charity in United States, based in Hawthorne, CA. It received its IRS tax-exemption ruling in April 2002, 24 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Mychals Learning Place reported income of $3.4m and spending of $2.3m, leaving 32% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.8m to $3.4m (+87%), an average of +17% a year. The sharpest change came in the year to June 2022, when income rose by 89%. Over the whole period it spent 69% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Mychals Learning Place sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 90th percentile within CA. Charities of a similar size with the same main cause include Loaves and Fishes for St Louis Inc ($3.4m), Abound Food Care ($3.4m) and Cumberland River Homes Inc ($3.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 48% and program service revenue 42% of the total. Compensation of current officers, directors and key employees was $212k (9.1% of expenses). Other salaries and wages came to $1.1m. At year end it held assets of $6.0m against liabilities of $372k, net assets of $5.7m. It reported 45 employees.