24 Foundation Inc

Analysis

24 Foundation Inc is a registered charity in United States, based in Charlotte, NC. It received its IRS tax-exemption ruling in April 2006, 20 years ago. Its declared purposes cover diseases, disorders and medical disciplines, which this site groups under health and saving lives. 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, 24 Foundation Inc reported income of $1.8m and spending of $1.3m, leaving 29% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.8m to $1.8m (+1.8%), an average of +0.5% a year. The sharpest change came in the year to December 2023, when income rose by 25%. Over the whole period it spent 98% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, 24 Foundation Inc sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 86th percentile within NC. Charities of a similar size with the same main cause include Safe Harbor of NC Inc ($1.8m), Mental Health America of South Carolina ($1.8m) and Genesis Counseling Center Inc ($1.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 89% and program service revenue 10% of the total. Compensation of current officers, directors and key employees was $119k (9.3% of expenses). Other salaries and wages came to $218k. At year end it held assets of $1.2m against liabilities of $431k, net assets of $771k. It reported 4 employees.