Friends of Bassett Inc

Analysis

Friends of Bassett Inc is a registered charity in United States, based in Cooperstown, NY. It received its IRS tax-exemption ruling in October 1969, 57 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, Friends of Bassett Inc reported income of $4.8m and spending of $2.6m, leaving 47% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $4.0m to $4.8m (+21%), an average of +4.9% a year. The sharpest change came in the year to December 2021, when income rose by 139%. Over the whole period it spent 89% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Friends of Bassett Inc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 89th percentile within NY. Charities of a similar size with the same main cause include 9 11 Day ($4.8m), Montgomery County Community Foundation Inc ($4.8m) and Gold Crown Foundation Inc ($4.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% of the total. At year end it held assets of $17.3m against liabilities of $1.3m, net assets of $16.0m.