Gloucester Fund Inc

Analysis

Gloucester Fund Inc is a registered charity in United States, based in Gloucester, MA. It received its IRS tax-exemption ruling in November 2001, 25 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, Gloucester Fund Inc reported income of $188k and spending of $164k, spending 87% of its income. Across the 4 years on record, from December 2018 to December 2023, income fell from $318k to $188k (-41%), an average of -16% a year. The sharpest change came in the year to December 2021, when income dropped by 18%. Over the whole period it spent 69% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Gloucester Fund Inc sits at the 57th percentile: it is larger than about 56% of them. Against every charity in United States with reported income it ranks in the 52nd percentile, and in the 56th percentile within MA. Charities of a similar size with the same main cause include RJB Education Equity Foundation ($188k), Ami Foundation Inc ($189k) and Orange County Sheriff Foundation Inc ($188k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $327k against liabilities of $25k, net assets of $302k.