Norwalk Community College Foundation

Analysis

Norwalk Community College Foundation is a registered charity in United States, based in Norwalk, CT. It received its IRS tax-exemption ruling in April 1966, 60 years ago. Its declared purposes cover education, which this site groups under education and training. 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, Norwalk Community College Foundation reported income of $4.2m and spending of $3.8m, spending 90% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $3.5m to $4.2m (+20%), an average of +4.6% a year. The sharpest change came in the year to June 2020, when income rose by 41%. Over the whole period it spent 78% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Norwalk Community College Foundation sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 89th percentile within CT. Charities of a similar size with the same main cause include Ilead Agua Dulce ($4.2m), Detroit Public Schools Foundation ($4.2m) and Loyola-Notre Dame Library Inc ($4.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 74% of the total. Compensation of current officers, directors and key employees was $360k (9.5% of expenses). Other salaries and wages came to $274k. At year end it held assets of $35.2m against liabilities of $2.1m, net assets of $33.1m. It reported 9 employees.