Fremont Area Community Foundation

Analysis

Fremont Area Community Foundation is a registered charity in United States, based in Fremont, MI. It received its IRS tax-exemption ruling in June 1957, 69 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, Fremont Area Community Foundation reported income of $14.9m and spending of $10.7m, leaving 28% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $10.6m to $14.9m (+40%), an average of +8.7% a year. The sharpest change came in the year to December 2021, when income rose by 199%. Over the whole period it spent 82% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Fremont Area Community 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 96th percentile, and in the 96th percentile within MI. Charities of a similar size with the same main cause include Women Donors Network ($14.9m), United Way of Buffalo and Erie County ($14.9m) and Quad Cities Community Foundation ($14.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 32% and program service revenue 2.3% of the total. Compensation of current officers, directors and key employees was $620k (5.8% of expenses). Other salaries and wages came to $1.1m. At year end it held assets of $269.0m against liabilities of $5.0m, net assets of $264.0m. It reported 24 employees.