Keweenaw Community Foundation

Analysis

Keweenaw Community Foundation is a registered charity in United States, based in Hancock, MI. It received its IRS tax-exemption ruling in July 2022, 4 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, Keweenaw Community Foundation reported income of $9.1m and spending of $193k, leaving 98% of income unspent that year. Across the 6 years on record, from March 2019 to December 2023, income grew from $1.3m to $9.1m (+613%), an average of +48% a year. The sharpest change came in the year to December 2023, when income rose by 14430%. Over the whole period it spent 20% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Keweenaw Community Foundation sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 95th percentile within MI. Charities of a similar size with the same main cause include United Way of Central New York Inc ($9.1m), Community Foundation of Orange County ($9.1m) and Manor Park Foundation Inc ($9.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% of the total. At year end it held assets of $11.8m against liabilities of $1.9m, net assets of $9.9m.