Foundation School Incorporated

Analysis

Foundation School Incorporated is a registered charity in United States, based in Orange, CT. It received its IRS tax-exemption ruling in May 1968, 58 years ago. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Foundation School Incorporated reported income of $4.4m and spending of $4.6m, spending 105% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $5.7m to $4.4m (-23%), an average of -6.3% a year. Over the whole period it spent 100% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Foundation School Incorporated sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 90th percentile within CT. Charities of a similar size with the same main cause include Providence House Inc ($4.4m), Mid-America Reformed Seminary ($4.4m) and Copiah Educational Foundation Inc ($4.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.0% and program service revenue 91% of the total. Other salaries and wages came to $3.3m. At year end it held assets of $16.5m against liabilities of $133k, net assets of $16.3m. It reported 38 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.