Norfolk Area Chamber of Commerce Foundation

Analysis

Norfolk Area Chamber of Commerce Foundation is a registered charity in United States, based in Norfolk, NE. It received its IRS tax-exemption ruling in March 2011, 15 years ago. Its declared purposes cover education, which this site groups under education and training. 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, Norfolk Area Chamber of Commerce Foundation reported income of $98k and spending of $118k, spending 120% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $86k to $98k (+13%), an average of +3.2% a year. The sharpest change came in the year to December 2021, when income rose by 79%. Over the whole period it spent 118% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Norfolk Area Chamber of Commerce Foundation sits at the 39th percentile: it is larger than about 39% of them. Against every charity in United States with reported income it ranks in the 36th percentile, and in the 35th percentile within NE. Charities of a similar size with the same main cause include Crossroads College Foundation ($98k), Rotary Club of Big Bear Lake ($98k) and Do Good Student Support Group a NJ Nonprofit Corporation ($98k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 62% and program service revenue 38% of the total. At year end it held assets of $1.4m against liabilities of $1,077, net assets of $1.4m.

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.