Frances Bean Vair Testamentary Trust

Analysis

Frances Bean Vair Testamentary Trust is a registered charity in United States, based in Pittsburgh, PA. It received its IRS tax-exemption ruling in November 2019, 7 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a supporting organisation (type iii other) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Frances Bean Vair Testamentary Trust reported income of $928k and spending of $2.3m, spending 243% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $5.1m to $928k (-82%), an average of -35% a year. The sharpest change came in the year to December 2021, when income rose by 938%. Over the whole period it spent 116% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Frances Bean Vair Testamentary Trust sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 77th percentile within PA. Charities of a similar size with the same main cause include Beyond Walls Inc ($928k), Global Womens Innovation Network ($930k) and Carthage Improvements Corporation ($928k).

Compensation of current officers, directors and key employees was $203k (9.0% of expenses). At year end it held assets of $36.1m against liabilities of $0, net assets of $36.1m.