Watertown Community Foundation Inc

Analysis

Watertown Community Foundation Inc is a registered charity in United States, based in Watertown, MA. It received its IRS tax-exemption ruling in June 2005, 21 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, Watertown Community Foundation Inc reported income of $1.2m and spending of $1.3m, spending 104% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $221k to $1.2m (+445%), an average of +53% a year. The sharpest change came in the year to December 2021, when income rose by 82%. Over the whole period it spent 106% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Watertown Community Foundation Inc sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 80th percentile within MA. Charities of a similar size with the same main cause include Suzuki Music School of Westport Inc ($1.2m), Friends of Bas Ayin ($1.2m) and Neuberger Family Foundation Inc ($1.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 90% of the total. Compensation of current officers, directors and key employees was $136k (11% of expenses). Other salaries and wages came to $17k. At year end it held assets of $2.5m against liabilities of $271k, net assets of $2.2m. It reported 2 employees.

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.