Albion Community Foundation

Analysis

Albion Community Foundation is a registered charity in United States, based in Albion, MI. It received its IRS tax-exemption ruling in October 1968, 58 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 December 2023, Albion Community Foundation reported income of $1.3m and spending of $794k, leaving 41% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $423k to $1.3m (+218%), an average of +34% a year. The sharpest change came in the year to December 2021, when income rose by 431%. Over the whole period it spent 75% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Albion Community Foundation sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 82nd percentile within MI. Charities of a similar size with the same main cause include Central Inside Electrical Joint Appenticeship and Training Trust F ($1.3m), Northeast Okc Renaissance ($1.3m) and Tovah Inc ($1.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 79% and program service revenue 0.7% of the total. Compensation of current officers, directors and key employees was $78k (9.8% of expenses). Other salaries and wages came to $48k. At year end it held assets of $7.1m against liabilities of $793k, net assets of $6.3m. It reported 5 employees.