Foundation for Norfolk Living

Analysis

Foundation for Norfolk Living is a registered charity in United States, based in Norfolk, CT. It received its IRS tax-exemption ruling in May 2008, 18 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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, Foundation for Norfolk Living reported income of $2.8m and spending of $201k, leaving 93% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $565k to $2.8m (+389%), an average of +49% a year. The sharpest change came in the year to December 2023, when income rose by 436%. Over the whole period it spent 23% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Foundation for Norfolk Living sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 87th percentile within CT. Charities of a similar size with the same main cause include Richmond Labor and Love Community Development Corporation ($2.8m), Jackson Street Youth Shelter Inc ($2.8m) and Habitat for Humanity of North Carolina Inc ($2.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 96% and program service revenue 4.1% of the total. At year end it held assets of $7.1m against liabilities of $317k, net assets of $6.8m.