Ginger Cove Foundation Inc

Analysis

Ginger Cove Foundation Inc is a registered charity in United States, based in Annapolis, MD. It received its IRS tax-exemption ruling in March 2003, 23 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 supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Ginger Cove Foundation Inc reported income of $468k and spending of $314k, leaving 33% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income fell from $614k to $468k (-24%), an average of -6.6% a year. The sharpest change came in the year to June 2022, when income rose by 170%. Over the whole period it spent 103% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Ginger Cove Foundation Inc sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 68th percentile within MD. Charities of a similar size with the same main cause include Kelly Reeves Memorial Foundation ($467k), Kiwanis Foundation of Indianapolis Inc ($468k) and Summers Legacy Foundation Inc ($467k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 74% of the total. At year end it held assets of $3.1m against liabilities of $798k, net assets of $2.3m.