Rackspace Foundation

Analysis

Rackspace Foundation is a registered charity in United States, based in San Antonio, TX. It received its IRS tax-exemption ruling in March 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 December 2023, Rackspace Foundation reported income of $189k and spending of $353k, spending 187% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $582k to $189k (-68%), an average of -24% a year. The sharpest change came in the year to December 2022, when income dropped by 51%. Over the whole period it spent 116% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Rackspace Foundation 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 52nd percentile, and in the 56th percentile within TX. Charities of a similar size with the same main cause include Langford Family Foundation TR Ua 022699 ($189k), Bruce J Walker Foundation Inc ($189k) and Savannah Smiles Inc ($189k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $658k against liabilities of $0, net assets of $658k.

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.