Ginungagap Foundation

Analysis

Ginungagap Foundation is a registered charity in United States, based in Tiburon, CA. It received its IRS tax-exemption ruling in November 2004, 22 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 supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Ginungagap Foundation reported income of $1.0m and spending of $584k, leaving 42% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $400k to $1.0m (+151%), an average of +26% a year. The sharpest change came in the year to December 2020, when income rose by 148%. Over the whole period it spent 57% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Ginungagap Foundation sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 80th percentile within CA. Charities of a similar size with the same main cause include Eskaton Foundation ($1.0m), Friends of Barker Inc ($1.0m) and The International Friends of the Montreal Museum of Fine Arts Inc ($1.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $30k (5.1% of expenses). Other salaries and wages came to $24k. At year end it held assets of $5.3m against liabilities of $0, net assets of $5.3m. It reported 1 employees.