Frostburg State University Foundation

Analysis

Frostburg State University Foundation is a registered charity in United States, based in Frostburg, MD. It received its IRS tax-exemption ruling in July 1971, 55 years ago. Its declared purposes cover education, which this site groups under education and training. 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 2024, Frostburg State University Foundation reported income of $6.7m and spending of $3.9m, leaving 42% of income unspent that year. Across the 5 years on record, from June 2020 to June 2024, income grew from $3.7m to $6.7m (+80%), an average of +16% a year. The sharpest change came in the year to June 2024, when income rose by 62%. Over the whole period it spent 54% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Frostburg State University Foundation 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 93rd percentile, and in the 92nd percentile within MD. Charities of a similar size with the same main cause include Riverside Educational Center ($6.7m), Knight First Amendment Institute at Columbia University ($6.7m) and Marianne Frostig Center of Educational Therapy ($6.7m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 64% and program service revenue 1.9% of the total. Other salaries and wages came to $134k. At year end it held assets of $47.0m against liabilities of $59k, net assets of $46.9m. It reported 3 employees.