Charter Oak State College Foundation Inc

Analysis

Charter Oak State College Foundation Inc is a registered charity in United States, based in New Britain, CT. It received its IRS tax-exemption ruling in February 1978, 48 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Charter Oak State College Foundation Inc reported income of $415k and spending of $414k, spending 100% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $207k to $415k (+100%), an average of +19% a year. The sharpest change came in the year to June 2021, when income rose by 244%. Over the whole period it spent 72% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Charter Oak State College Foundation Inc sits at the 65th percentile: it is larger than about 65% of them. Against every charity in United States with reported income it ranks in the 67th percentile, and in the 65th percentile within CT. Charities of a similar size with the same main cause include Kansas Global Trade Services ($415k), Portland Metro Arts ($415k) and Easter Seals United Cerebral Palsy NC Housing Inc ($415k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 86% of the total. At year end it held assets of $2.6m against liabilities of $0, net assets of $2.6m.