Community Foundation of Elmira Corning and the Finger Lakes

Analysis

Community Foundation of Elmira Corning and the Finger Lakes is a registered charity in United States, based in Horseheads, NY. It received its IRS tax-exemption ruling in November 1977, 49 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 June 2024, Community Foundation of Elmira Corning and the Finger Lakes reported income of $12.6m and spending of $3.7m, leaving 70% of income unspent that year. Across the 5 years on record, from June 2020 to June 2024, income grew from $4.5m to $12.6m (+181%), an average of +30% a year. The sharpest change came in the year to June 2024, when income rose by 225%. Over the whole period it spent 64% 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 Elmira Corning and the Finger Lakes sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 94th percentile within NY. Charities of a similar size with the same main cause include Richland County Foundation of Mansfield ($12.6m), Jewish Federation of Omaha Foundation ($12.6m) and Family Giving Foundation Inc ($12.6m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 24% and program service revenue 0.1% of the total. Compensation of current officers, directors and key employees was $202k (5.4% of expenses). Other salaries and wages came to $349k. At year end it held assets of $76.0m against liabilities of $2.8m, net assets of $73.2m. It reported 6 employees.