Greater Lowell Community Foundation Inc

Analysis

Greater Lowell Community Foundation Inc is a registered charity in United States, based in Lowell, MA. It received its IRS tax-exemption ruling in July 1998, 28 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 Lowell Community Foundation Inc reported income of $8.5m and spending of $7.2m, spending 85% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $4.0m to $8.5m (+113%), an average of +21% a year. The sharpest change came in the year to December 2020, when income rose by 111%. Over the whole period it spent 72% 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 Lowell Community Foundation Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 93rd percentile within MA. Charities of a similar size with the same main cause include Northeast Kansas Community Action Program ($8.5m), Chevra-Kadisha Yerushalayim Inc ($8.5m) and Southeastern Illinois Community Foundation ($8.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 77% of the total. Compensation of current officers, directors and key employees was $190k (2.6% of expenses). Other salaries and wages came to $670k. At year end it held assets of $61.9m against liabilities of $11.1m, net assets of $50.8m. It reported 10 employees.