New Albany Community Foundation

Analysis

New Albany Community Foundation is a registered charity in United States, based in New Albany, OH. It received its IRS tax-exemption ruling in January 1995, 31 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, New Albany Community Foundation reported income of $5.5m and spending of $5.0m, spending 91% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $3.8m to $5.5m (+46%), an average of +9.9% a year. The sharpest change came in the year to June 2021, when income rose by 223%. Over the whole period it spent 92% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, New Albany Community Foundation sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 92nd percentile within OH. Charities of a similar size with the same main cause include Jackson Community Foundation ($5.5m), Portland Community College Foundation Inc ($5.5m) and The Giving Kitchen Initiative Inc ($5.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 97% and program service revenue 3.3% of the total. Compensation of current officers, directors and key employees was $299k (6.0% of expenses). Other salaries and wages came to $293k. At year end it held assets of $21.0m against liabilities of $1.2m, net assets of $19.8m. It reported 5 employees.