FGS Inc

Analysis

FGS Inc is a registered charity in United States, based in Binghamton, NY. It received its IRS tax-exemption ruling in November 1987, 39 years ago. 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, FGS Inc reported income of $3.5m and spending of $3.5m, spending 98% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.7m to $3.5m (+33%), an average of +7.3% a year. The sharpest change came in the year to December 2020, when income rose by 24%. Over the whole period it spent 96% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, FGS Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 87th percentile within NY. Charities of a similar size with the same main cause include Glass City Academy ($3.5m), Friends of Penfield Childrens Center Inc ($3.5m) and Suncoast Haven of Rest Rescue Mission Inc ($3.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.1% and program service revenue 100% of the total. Compensation of current officers, directors and key employees was $1000k (29% of expenses). Other salaries and wages came to $1.5m. At year end it held assets of $1.5m against liabilities of $428k, net assets of $1.1m. It reported 39 employees.