Petit Family Foundation

Analysis

Petit Family Foundation is a registered charity in United States, based in Farmington, CT. It received its IRS tax-exemption ruling in April 2009, 17 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 June 2023, Petit Family Foundation reported income of $507k and spending of $973k, spending 192% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $513k to $507k (-1.0%), an average of -0.3% a year. The sharpest change came in the year to June 2021, when income rose by 296%. Over the whole period it spent 97% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Petit Family Foundation sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 68th percentile within CT. Charities of a similar size with the same main cause include Artworks Foundation ($507k), Deshaun Watson Foundation ($508k) and Harold B and Elizabeth L Shattuck Memorial Fund ($507k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 65% of the total. Other salaries and wages came to $49k. At year end it held assets of $4.9m against liabilities of $46k, net assets of $4.8m. It reported 2 employees.