Monks of Norcia Foundation

Analysis

Monks of Norcia Foundation is a registered charity in United States, based in Norwalk, CT. It received its IRS tax-exemption ruling in February 2000, 26 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general 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 June 2024, Monks of Norcia Foundation reported income of $3.6m and spending of $2.6m, leaving 28% of income unspent that year. Across the 6 years on record, from June 2019 to June 2024, income grew from $1.1m to $3.6m (+244%), an average of +28% a year. The sharpest change came in the year to June 2022, when income rose by 575%. Over the whole period it spent 102% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Monks of Norcia Foundation sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 88th percentile within CT. Charities of a similar size with the same main cause include Gabrielles Angel Foundation for Cancer Research Inc ($3.6m), Annunciation Maternity Home Inc ($3.6m) and Main Street Community Foundation ($3.6m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 97% of the total. At year end it held assets of $2.1m against liabilities of $503k, net assets of $1.6m.