Shumard Foundation Inc

Analysis

Shumard Foundation Inc is a registered charity in United States, based in Norcross, GA. It received its IRS tax-exemption ruling in September 2007, 19 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 2022, Shumard Foundation Inc reported income of $3.5m and spending of $1.6m, leaving 55% of income unspent that year. Across the 4 years on record, from December 2019 to December 2022, income grew from $2.1m to $3.5m (+65%), an average of +18% a year. The sharpest change came in the year to December 2022, when income rose by 336%. Over the whole period it spent 134% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Shumard Foundation 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 92nd percentile within GA. Charities of a similar size with the same main cause include Local Enterprise Assistance Fund Inc ($3.5m), Community Services West ($3.5m) and Vibrant Hawaii ($3.5m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 0.9% of the total. At year end it held assets of $20.8m against liabilities of $0, net assets of $20.8m.