Coast Guard Foundation Inc

Analysis

Coast Guard Foundation Inc is a registered charity in United States, based in Stonington, CT. It received its IRS tax-exemption ruling in May 1986, 40 years ago. Its declared purposes cover public and societal benefit, which this site groups under other charitable 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, Coast Guard Foundation Inc reported income of $11.8m and spending of $10.8m, spending 92% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $9.7m to $11.8m (+22%), an average of +5.1% a year. The sharpest change came in the year to December 2021, when income rose by 39%. Over the whole period it spent 87% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Coast Guard Foundation Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 95th percentile within CT. Charities of a similar size with the same main cause include National Indian Health Board ($11.8m), United States and Canadian Academy of Pathology Inc ($11.8m) and Goodwill Industries of Southeast Texas ($11.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 96% of the total. Compensation of current officers, directors and key employees was $787k (7.3% of expenses). Other salaries and wages came to $1.9m. It paid $565k in professional fundraising fees. At year end it held assets of $23.3m against liabilities of $3.1m, net assets of $20.3m. It reported 23 employees.