Springfield Foundation

Analysis

Springfield Foundation is a registered charity in United States, based in Springfield, OH. It received its IRS tax-exemption ruling in July 1954, 72 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, Springfield Foundation reported income of $18.1m and spending of $4.9m, leaving 73% of income unspent that year. Across the 4 years on record, from December 2019 to December 2023, income grew from $4.8m to $18.1m (+274%), an average of +55% a year. The sharpest change came in the year to December 2023, when income rose by 150%. Over the whole period it spent 46% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Springfield Foundation sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within OH. Charities of a similar size with the same main cause include Muskegon County Community Foundation ($18.0m), The M S Hershey Foundation ($18.2m) and Eo Companies ($18.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 88% and program service revenue 1.5% of the total. Compensation of current officers, directors and key employees was $149k (3.1% of expenses). Other salaries and wages came to $365k. At year end it held assets of $131.3m against liabilities of $62.0m, net assets of $69.2m. It reported 7 employees.