The Gear Foundation Inc

Analysis

The Gear Foundation Inc is a registered charity in United States, based in Franklin, TN. It received its IRS tax-exemption ruling in May 2008, 18 years ago. Its declared purposes cover employment, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, The Gear Foundation Inc reported income of $140k and spending of $86k, leaving 39% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.2m to $140k (-88%), an average of -42% a year. The sharpest change came in the year to December 2023, when income rose by 624%. Over the whole period it spent 112% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, The Gear Foundation Inc sits at the 43rd percentile: it is larger than about 43% of them. Against every charity in United States with reported income it ranks in the 45th percentile, and in the 46th percentile within TN. Charities of a similar size with the same main cause include Asociacion Civil Sagrada Familia ($140k), Internationl Association of Lions Clubs ($140k) and Editorial Hypermedia Inc ($140k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.5% of the total. Compensation of current officers, directors and key employees was $59k (69% of expenses). At year end it held assets of $171k against liabilities of $2,614, net assets of $168k. It reported 1 employees.