Finding Common Purpose Inc

Analysis

Finding Common Purpose Inc is a registered charity in United States, based in Lexington, MA. It received its IRS tax-exemption ruling in November 2005, 21 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, Finding Common Purpose Inc reported income of $1.8m and spending of $1.9m, spending 109% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $2.3m to $1.8m (-23%), an average of -6.4% a year. The sharpest change came in the year to December 2021, when income dropped by 22%. Over the whole period it spent 110% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Finding Common Purpose Inc sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 84th percentile within MA. Charities of a similar size with the same main cause include Boy Scouts of America ($1.8m), Evergreen Day School Inc ($1.8m) and Cell Phones for Soldiers Inc ($1.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 6.8% and program service revenue 93% of the total. Compensation of current officers, directors and key employees was $194k (10.0% of expenses). Other salaries and wages came to $1.2m. At year end it held assets of $875k against liabilities of $232k, net assets of $643k. It reported 16 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.