Greater Worcester Community Foundation Inc

Analysis

Greater Worcester Community Foundation Inc is a registered charity in United States, based in Worcester, MA. It received its IRS tax-exemption ruling in February 1976, 50 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 December 2023, Greater Worcester Community Foundation Inc reported income of $13.7m and spending of $13.0m, spending 94% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $10.8m to $13.7m (+27%), an average of +6.2% a year. The sharpest change came in the year to December 2020, when income rose by 68%. Over the whole period it spent 81% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Greater Worcester Community Foundation Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 95th percentile within MA. Charities of a similar size with the same main cause include Hospice Foundation of Western New York Inc ($13.7m), Jewish Community of Louisville Inc ($13.7m) and The Fuller Foundation ($13.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 81% and program service revenue 2.3% of the total. Compensation of current officers, directors and key employees was $573k (4.4% of expenses). Other salaries and wages came to $564k. At year end it held assets of $206.2m against liabilities of $47.3m, net assets of $158.9m. It reported 18 employees.