Greater Sarasota Chamber of Commerce Foundation Inc

Analysis

Greater Sarasota Chamber of Commerce Foundation Inc is a registered charity in United States, based in Sarasota, FL. It received its IRS tax-exemption ruling in July 2008, 18 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Greater Sarasota Chamber of Commerce Foundation Inc reported income of $485k and spending of $826k, spending 170% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income fell from $1.6m to $485k (-70%), an average of -26% a year. The sharpest change came in the year to September 2020, when income dropped by 62%. Over the whole period it spent 80% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Greater Sarasota Chamber of Commerce Foundation Inc sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 72nd percentile within FL. Charities of a similar size with the same main cause include Mainestream Finance ($485k), Operating Engineers Local 953 Journeyman & Apprentice TNG TR FND ($485k) and Innovation for Green Advanced Transportation Excellence Developm ($484k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 97% of the total. At year end it held assets of $1.0m against liabilities of $316, net assets of $1.0m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.