FB Foundation

Analysis

FB Foundation is a registered charity in United States, based in North Charleston, SC. It received its IRS tax-exemption ruling in November 2017, 9 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, FB Foundation reported income of $103k and spending of $133k, spending 128% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income grew from $57k to $103k (+81%), an average of +81% a year. The sharpest change came in the year to December 2023, when income rose by 81%. Over the whole period it spent 198% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, FB Foundation sits at the 33rd percentile: it is larger than about 33% of them. Against every charity in United States with reported income it ranks in the 38th percentile, and in the 43rd percentile within SC. Charities of a similar size with the same main cause include Meals for Good Inc ($103k), Twinstate Makerspaces Inc ($103k) and Virginia M Olson Foundation ($103k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 98% and program service revenue 0.5% of the total. At year end it held assets of $29k against liabilities of $162k, net assets of -$133k.