Essex County Community FDN Inc

Analysis

Essex County Community FDN Inc is a registered charity in United States, based in Beverly, MA. It received its IRS tax-exemption ruling in June 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 June 2023, Essex County Community FDN Inc reported income of $22.7m and spending of $22.7m, spending 100% of its income. Across the 4 years on record, from June 2020 to June 2023, income fell from $26.5m to $22.7m (-14%), an average of -5.0% a year. The sharpest change came in the year to June 2021, when income rose by 24%. Over the whole period it spent 76% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Essex County Community FDN Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 96th percentile within MA. Charities of a similar size with the same main cause include United Way of the National Capital Area ($22.7m), Community Foundation of Greater Fort Wayne Inc ($22.7m) and United Way of Greater Cleveland Fund ($22.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 82% and program service revenue 3.0% of the total. Compensation of current officers, directors and key employees was $421k (1.9% of expenses). Other salaries and wages came to $1.3m. At year end it held assets of $126.6m against liabilities of $22.8m, net assets of $103.9m. It reported 24 employees.