Makeway Foundation

Analysis

Makeway Foundation is a registered charity in United States, based in Canada. It received its IRS tax-exemption ruling in October 2003, 23 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).

In the financial year ending March 2023, Makeway Foundation reported income of $34.2m and spending of $20.1m, leaving 41% of income unspent that year. Across the 4 years on record, from March 2019 to March 2023, income grew from $11.9m to $34.2m (+188%), an average of +42% a year. The sharpest change came in the year to March 2022, when income rose by 154%. Over the whole period it spent 68% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Makeway Foundation sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile. Charities of a similar size with the same main cause include The Kintock Group of New Jersey Inc ($34.1m), Braille Institute of America Inc ($34.2m) and Vermont Foodbank ($34.1m).

On its Form 990 for the period ending March 2023, revenue came from contributions and grants 93% of the total. Compensation of current officers, directors and key employees was $947k (4.7% of expenses). Other salaries and wages came to $1.1m. At year end it held assets of $68.8m against liabilities of $718k, net assets of $68.1m.