Foundation 2 Inc

Analysis

Foundation 2 Inc is a registered charity in United States, based in Cedar Rapids, IA. It received its IRS tax-exemption ruling in December 1977, 49 years ago. 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 June 2024, Foundation 2 Inc reported income of $12.0m and spending of $9.8m, spending 82% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $5.5m to $12.0m (+117%), an average of +21% a year. The sharpest change came in the year to June 2023, when income rose by 48%. Over the whole period it spent 79% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Foundation 2 Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within IA. Charities of a similar size with the same main cause include Randalls Island Park Alliance Inc ($12.0m), Evansville Christian School Inc ($12.0m) and Tri-County Community Action Partnership Inc ($12.0m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 22% and program service revenue 76% of the total. Compensation of current officers, directors and key employees was $606k (6.2% of expenses). Other salaries and wages came to $5.2m. At year end it held assets of $11.9m against liabilities of $845k, net assets of $11.0m. It reported 238 employees.