Institute for Family-Owned Business

Analysis

Institute for Family-Owned Business is a registered charity in United States, based in Portland, ME. It received its IRS tax-exemption ruling in December 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 December 2023, Institute for Family-Owned Business reported income of $273k and spending of $304k, spending 111% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $219k to $273k (+25%), an average of +5.7% a year. The sharpest change came in the year to December 2021, when income rose by 47%. Over the whole period it spent 99% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Institute for Family-Owned Business sits at the 57th percentile: it is larger than about 57% of them. Against every charity in United States with reported income it ranks in the 60th percentile, and in the 54th percentile within ME. Charities of a similar size with the same main cause include Ccyp Inc ($273k), Providence Resilience Partnership Inc ($273k) and Democracyatwork Info ($273k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 107% and program service revenue 19% of the total. Compensation of current officers, directors and key employees was $104k (34% of expenses). Other salaries and wages came to $60k. At year end it held assets of $188k against liabilities of $25k, net assets of $164k. It reported 4 employees.