Nfa Foundation Inc

Analysis

Nfa Foundation Inc is a registered charity in United States, based in Norwich, CT. It received its IRS tax-exemption ruling in June 1986, 40 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 June 2023, Nfa Foundation Inc reported income of $3.7m and spending of $3.8m, spending 103% of its income. Across the 4 years on record, from June 2020 to June 2023, income fell from $3.8m to $3.7m (-1.5%), an average of -0.5% a year. The sharpest change came in the year to June 2023, when income dropped by 31%. Over the whole period it spent 158% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Nfa Foundation Inc sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 89th percentile within CT. Charities of a similar size with the same main cause include Portland Foundation Inc ($3.7m), The Skatepark Project ($3.7m) and Dakota Medical Charities ($3.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 24% and program service revenue 1.1% of the total. Compensation of current officers, directors and key employees was $177k (4.6% of expenses). Other salaries and wages came to $325k. At year end it held assets of $80.2m against liabilities of $4.4m, net assets of $75.8m. It reported 10 employees.

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.