Fab Foundation

Analysis

Fab Foundation is a registered charity in United States, based in Boston, MA. It received its IRS tax-exemption ruling in May 2011, 15 years ago. Its declared purposes cover science and technology, which this site groups under arts, culture, heritage and science. 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, Fab Foundation reported income of $2.2m and spending of $3.2m, spending 147% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $3.6m to $2.2m (-39%), an average of -12% a year. The sharpest change came in the year to December 2022, when income dropped by 26%. Over the whole period it spent 112% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Fab 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 87th percentile, and in the 86th percentile within MA. Charities of a similar size with the same main cause include Ivoryton Playhouse Foundation Inc ($2.2m), Montgomery Museum of Fine Arts Association ($2.2m) and Research Institute for Learning and Development ($2.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 56% and program service revenue 36% of the total. Compensation of current officers, directors and key employees was $125k (3.9% of expenses). Other salaries and wages came to $325k. At year end it held assets of $1.6m against liabilities of $708k, net assets of $926k. It reported 5 employees.