Old North Foundation of Boston Inc

Analysis

Old North Foundation of Boston Inc is a registered charity in United States, based in Boston, MA. It received its IRS tax-exemption ruling in August 1991, 35 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Old North Foundation of Boston Inc reported income of $1.5m and spending of $1.8m, spending 120% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.8m to $1.5m (-15%), an average of -4.1% a year. The sharpest change came in the year to December 2021, when income rose by 218%. Over the whole period it spent 85% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Old North Foundation of Boston Inc sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 82nd percentile within MA. Charities of a similar size with the same main cause include Church & Dwight Employee Giving Fund Inc ($1.5m), Minnesota Military Family Foundation ($1.5m) and Christian Charities USA ($1.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 25% and program service revenue 48% of the total. Compensation of current officers, directors and key employees was $169k (9.4% of expenses). Other salaries and wages came to $755k. At year end it held assets of $4.9m against liabilities of $412k, net assets of $4.5m. It reported 60 employees.