Community Foundation of Herkimer and Oneida Counties Inc

Analysis

Community Foundation of Herkimer and Oneida Counties Inc is a registered charity in United States, based in Utica, NY. It received its IRS tax-exemption ruling in August 1957, 69 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 of Herkimer and Oneida Counties Inc reported income of $21.2m and spending of $14.6m, leaving 31% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income fell from $25.6m to $21.2m (-17%), an average of -4.6% a year. The sharpest change came in the year to December 2021, when income rose by 72%. Over the whole period it spent 65% 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 of Herkimer and Oneida Counties Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 96th percentile within NY. Charities of a similar size with the same main cause include National Gift Annuity Foundation ($21.0m), United Jewish Community of Broward County Inc ($21.3m) and World of Giving Inc ($20.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 67% and program service revenue 0.4% of the total. Compensation of current officers, directors and key employees was $484k (3.3% of expenses). Other salaries and wages came to $1.4m. At year end it held assets of $201.5m against liabilities of $16.9m, net assets of $184.6m. It reported 20 employees.