Garrett B Smith Foundation

Analysis

Garrett B Smith Foundation is a registered charity in United States, based in Greenwich, CT. It received its IRS tax-exemption ruling in June 1995, 31 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Garrett B Smith Foundation reported income of $94k and spending of $155k, spending 165% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $107k to $94k (-12%), an average of -3.2% a year. The sharpest change came in the year to December 2021, when income rose by 73%. Over the whole period it spent 129% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Garrett B Smith Foundation sits at the 41st percentile: it is larger than about 41% of them. Against every charity in United States with reported income it ranks in the 35th percentile, and in the 33rd percentile within CT. Charities of a similar size with the same main cause include One Solider at a Time ($94k), Somiech Noflim Foundation Inc ($94k) and Alamo Heights Optimist Inc ($94k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 55% of the total. At year end it held assets of $1.6m against liabilities of $0, net assets of $1.6m.