Suffolk Foundation

Analysis

Suffolk Foundation is a registered charity in United States, based in Suffolk, VA. It received its IRS tax-exemption ruling in September 2007, 19 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 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, Suffolk Foundation reported income of $1.2m and spending of $1.1m, spending 94% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.1m to $1.2m (+14%), an average of +3.4% a year. The sharpest change came in the year to December 2021, when income rose by 40%. Over the whole period it spent 74% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Suffolk Foundation sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 81st percentile within VA. Charities of a similar size with the same main cause include Froedtert Menomonee Falls Hospital Foundation Inc ($1.2m), United Way of Lake and Sumter Counties Inc ($1.2m) and Studentsfirst New York Institute ($1.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 70% of the total. Compensation of current officers, directors and key employees was $87k (7.7% of expenses). Other salaries and wages came to $30k. At year end it held assets of $12.3m against liabilities of $938k, net assets of $11.3m. It reported 3 employees.