Financial Accounting Foundation

Analysis

Financial Accounting Foundation is a registered charity in United States, based in Norwalk, CT. It received its IRS tax-exemption ruling in September 1972, 54 years ago. Its declared purposes cover public and societal benefit, which this site groups under other charitable 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, Financial Accounting Foundation reported income of $80.8m and spending of $70.1m, spending 87% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $58.3m to $80.8m (+39%), an average of +8.5% a year. The sharpest change came in the year to December 2022, when income rose by 23%. Over the whole period it spent 90% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Financial Accounting Foundation sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within CT. Charities of a similar size with the same main cause include Sacramento Food Bank & Family Services ($80.6m), Hamaskpik of Rockland County Inc ($81.0m) and Sullivan Orange Dutchess Counties Chapter Nysarc Inc ($80.6m).

Compensation of current officers, directors and key employees was $7.0m (10.0% of expenses). Other salaries and wages came to $33.9m. At year end it held assets of $145.7m against liabilities of $38.6m, net assets of $107.0m. It reported 178 employees.