Broome Community College Foundation Inc

Analysis

Broome Community College Foundation Inc is a registered charity in United States, based in Binghamton, NY. It received its IRS tax-exemption ruling in December 1995, 31 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 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 2024, Broome Community College Foundation Inc reported income of $14.2m and spending of $3.2m, leaving 78% of income unspent that year. Across the 5 years on record, from June 2020 to June 2024, income grew from $2.2m to $14.2m (+560%), an average of +60% a year. The sharpest change came in the year to June 2024, when income rose by 244%. Over the whole period it spent 47% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Broome Community College Foundation Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 95th percentile within NY. Charities of a similar size with the same main cause include University of South Florida Institute of Applied Engineering I ($14.2m), Embrace Living Development ($14.3m) and Daughters of Charity Foundation ($14.2m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 9.3% of the total. Compensation of current officers, directors and key employees was $222k (7.0% of expenses). Other salaries and wages came to $376k. At year end it held assets of $49.2m against liabilities of $376k, net assets of $48.8m. It reported 7 employees.