George & Raymond Frank Foundation

Analysis

George & Raymond Frank Foundation is a registered charity in United States, based in Rangeley, ME. It received its IRS tax-exemption ruling in April 1999, 27 years ago. Its declared purposes cover recreation and sports, which this site groups under amateur sport and recreation. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending October 2023, George & Raymond Frank Foundation reported income of $1.7m and spending of $1.3m, leaving 27% of income unspent that year. Across the 5 years on record, from October 2019 to October 2023, income grew from $1.2m to $1.7m (+39%), an average of +8.5% a year. The sharpest change came in the year to October 2021, when income rose by 399%. Over the whole period it spent 77% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, George & Raymond Frank Foundation sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 83rd percentile within ME. Charities of a similar size with the same main cause include Junior Railers Hockey Club Inc ($1.7m), Yuma Study Center Inc ($1.7m) and Carlos Beltran Baseball Academy Inc ($1.7m).

On its Form 990 for the period ending October 2023, revenue came from contributions and grants 37% and program service revenue 63% of the total. Compensation of current officers, directors and key employees was $110k (8.8% of expenses). Other salaries and wages came to $378k. At year end it held assets of $3.9m against liabilities of $25k, net assets of $3.8m. It reported 94 employees.