Community Foundation for Nantucket

Analysis

Community Foundation for Nantucket is a registered charity in United States, based in Nantucket, MA. It received its IRS tax-exemption ruling in June 2006, 20 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Community Foundation for Nantucket reported income of $7.0m and spending of $6.1m, spending 88% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $6.6m to $7.0m (+6.0%), an average of +1.5% a year. The sharpest change came in the year to December 2023, when income dropped by 46%. Over the whole period it spent 53% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Community Foundation for Nantucket sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 93rd percentile within MA. Charities of a similar size with the same main cause include York Foundation ($7.0m), Jewish Federation of Southern Arizona ($7.0m) and Intrepid Fallen Heroes Fund ($6.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 88% of the total. Compensation of current officers, directors and key employees was $246k (4.0% of expenses). Other salaries and wages came to $185k. At year end it held assets of $27.2m against liabilities of $295k, net assets of $26.9m. It reported 7 employees.