Worcester State Foundation Inc

Analysis

Worcester State Foundation Inc is a registered charity in United States, based in Worcester, MA. It received its IRS tax-exemption ruling in December 1993, 33 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a organisation supporting a government-owned college or university under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Worcester State Foundation Inc reported income of $8.3m and spending of $2.0m, leaving 76% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $3.6m to $8.3m (+129%), an average of +23% a year. The sharpest change came in the year to June 2021, when income rose by 138%. Over the whole period it spent 38% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Worcester State Foundation Inc sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 93rd percentile within MA. Charities of a similar size with the same main cause include Propel Charter School-Mckeesport ($8.3m), Machinists Institute ($8.3m) and Casas Comprehensive Adult Student Assessment Systems ($8.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 93% of the total. At year end it held assets of $48.7m against liabilities of $1.6m, net assets of $47.1m.