Alfond Scholarship Foundation

Analysis

Alfond Scholarship Foundation is a registered charity in United States, based in Portland, ME. It received its IRS tax-exemption ruling in June 2008, 18 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Alfond Scholarship Foundation reported income of $7.2m and spending of $7.4m, spending 102% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $7.0m to $7.2m (+3.7%), an average of +1.2% a year. Over the whole period it spent 100% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Alfond Scholarship Foundation sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 93rd percentile within ME. Charities of a similar size with the same main cause include Childrens Academy ($7.2m), Lenawee Christian School ($7.2m) and Modern School of Fashion and Design Inc ($7.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $151k (2.0% of expenses). Other salaries and wages came to $50k. At year end it held assets of $1.8m against liabilities of $1.5m, net assets of $268k. It reported 2 employees.