Community Foundations Service Corporation

Analysis

Community Foundations Service Corporation is a registered charity in United States, based in Charlotte, NC. It received its IRS tax-exemption ruling in July 2004, 22 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 supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Community Foundations Service Corporation reported income of $449k and spending of $495k, spending 110% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $345k to $449k (+30%), an average of +6.8% a year. The sharpest change came in the year to December 2021, when income rose by 550%. Over the whole period it spent 80% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Community Foundations Service Corporation sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 68th percentile, and in the 68th percentile within NC. Charities of a similar size with the same main cause include Ghba Charitable Foundation ($449k), Community Foundation of Northwest Florida Inc ($449k) and Community Foundation of Carroll County ($449k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 50% and program service revenue 50% of the total. Other salaries and wages came to $23k. At year end it held assets of $599k against liabilities of $30k, net assets of $569k.