Burroughs Foundation

Analysis

Burroughs Foundation is a registered charity in United States, based in Memphis, TN. It received its IRS tax-exemption ruling in March 2019, 7 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 (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, Burroughs Foundation reported income of $1.4m and spending of $273k, leaving 80% of income unspent that year. Across the 4 years on record, from December 2020 to December 2023, income grew from $338k to $1.4m (+312%), an average of +60% a year. The sharpest change came in the year to December 2023, when income rose by 170%. Over the whole period it spent 41% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Burroughs Foundation sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 84th percentile within TN. Charities of a similar size with the same main cause include Riley Center ($1.4m), Bellaire-Puritas Development Corp ($1.4m) and Fortis Capital ($1.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $50k (18% of expenses). At year end it held assets of $4.7m against liabilities of $1,806, net assets of $4.7m.