Southcoast Community Foundation Inc

Analysis

Southcoast Community Foundation Inc is a registered charity in United States, based in New Bedford, MA. It received its IRS tax-exemption ruling in October 1995, 31 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, Southcoast Community Foundation Inc reported income of $10.5m and spending of $10.0m, spending 95% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $7.1m to $10.5m (+48%), an average of +10% a year. The sharpest change came in the year to December 2020, when income rose by 96%. Over the whole period it spent 78% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Southcoast Community 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 95th percentile, and in the 94th percentile within MA. Charities of a similar size with the same main cause include Health Management Group Ltd ($10.5m), Lehigh Valley Community Foundation ($10.5m) and Visionspring ($10.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 91% of the total. Compensation of current officers, directors and key employees was $151k (1.5% of expenses). Other salaries and wages came to $1.2m. At year end it held assets of $56.0m against liabilities of $2.5m, net assets of $53.5m. It reported 19 employees.