Agnes and Abram Gaar Foundation Inc

Analysis

Agnes and Abram Gaar Foundation Inc is a registered charity in United States, based in Richmond, IN. It received its IRS tax-exemption ruling in December 1990, 36 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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, Agnes and Abram Gaar Foundation Inc reported income of $60k and spending of $76k, spending 126% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $30k to $60k (+98%), an average of +19% a year. The sharpest change came in the year to December 2020, when income rose by 86%. Over the whole period it spent 124% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Agnes and Abram Gaar Foundation Inc sits at the 27th percentile: it is larger than about 26% of them. Against every charity in United States with reported income it ranks in the 24th percentile, and in the 20th percentile within IN. Charities of a similar size with the same main cause include Salem Orchestra ($60k), Fusion Performing Dance Academy ($60k) and Schuhplattler Gebirgstrachten Verein Edelweiss Incorporated ($60k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% and program service revenue 2.4% of the total. At year end it held assets of $366k against liabilities of $25, net assets of $366k.

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.