Foundation to Advance Catholic Education Inc

Analysis

Foundation to Advance Catholic Education Inc is a registered charity in United States, based in Fall River, MA. It received its IRS tax-exemption ruling in March 1946, 80 years ago. 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 June 2024, Foundation to Advance Catholic Education Inc reported income of $1.3m and spending of $1.7m, spending 132% of what it took in. Across the 6 years on record, from June 2019 to June 2024, income grew from $876k to $1.3m (+47%), an average of +7.9% a year. The sharpest change came in the year to June 2021, when income rose by 84%. Over the whole period it spent 143% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Foundation to Advance Catholic Education Inc sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 81st percentile within MA. Charities of a similar size with the same main cause include Plumbers & Pipefitters Union Local 104 Joint Apprentice Trust Fund ($1.3m), Nobles Co Developmental Achievement Center Inc ($1.3m) and Tenants Union of Washington ($1.3m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 74% of the total. It paid $31k in professional fundraising fees. At year end it held assets of $8.1m against liabilities of $139k, net assets of $8.0m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.