Old Fort Western Fund

Analysis

Old Fort Western Fund is a registered charity in United States, based in Augusta, ME. It received its IRS tax-exemption ruling in November 1985, 41 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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 June 2023, Old Fort Western Fund reported income of $91k and spending of $117k, spending 129% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income fell from $199k to $91k (-54%), an average of -23% a year. The sharpest change came in the year to June 2022, when income rose by 84%. Over the whole period it spent 83% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Old Fort Western Fund sits at the 38th percentile: it is larger than about 38% of them. Against every charity in United States with reported income it ranks in the 34th percentile, and in the 28th percentile within ME. Charities of a similar size with the same main cause include BT Foundry ($91k), Pembroke Music Boosters Inc ($91k) and Friends of Silver Hawk Theatre ($91k).

On its Form 990-EZ for the period ending June 2023, revenue came from contributions and grants 12% and program service revenue 64% of the total. At year end it held assets of $404k against liabilities of $45k, net assets of $359k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.