Michael J Connell Memorial Fund Trust

Analysis

Michael J Connell Memorial Fund Trust is a registered charity in United States, based in Santa Barbara, CA. It received its IRS tax-exemption ruling in July 1947, 79 years ago. Its declared purposes cover education, which this site groups under education and training. 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, Michael J Connell Memorial Fund Trust reported income of $558k and spending of $8.2m, spending 1468% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $705k to $558k (-21%), an average of -5.7% a year. The sharpest change came in the year to December 2021, when income rose by 136%. Over the whole period it spent 294% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Michael J Connell Memorial Fund Trust sits at the 69th percentile: it is larger than about 69% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 73rd percentile within CA. Charities of a similar size with the same main cause include Chicago Center for Urban Life and Culture ($558k), Happy Tots Daycare Center Inc ($558k) and Multinational Exchange for Sustainable Agriculture Inc ($558k).

Compensation of current officers, directors and key employees was $50k (0.6% of expenses). At year end it held assets of $7.5m against liabilities of $0, net assets of $7.5m.