Fossum Foundation Inc

Analysis

Fossum Foundation Inc is a registered charity in United States, based in Fargo, ND. It received its IRS tax-exemption ruling in April 1963, 63 years ago. The IRS classifies it as a suspense under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Fossum Foundation Inc reported income of $99k and spending of $52k, leaving 48% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $80k to $99k (+25%), an average of +5.7% a year. The sharpest change came in the year to December 2021, when income rose by 63%. Over the whole period it spent 73% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Fossum Foundation Inc sits at the 36th percentile: it is larger than about 36% of them. Against every charity in United States with reported income it ranks in the 37th percentile, and in the 28th percentile within ND. Charities of a similar size with the same main cause include Little League Baseball Inc ($99k), Pulaski Daily Bread Inc ($99k) and Cherry Creek School District Parent Teacher Community Council Inc ($99k).

At year end it held assets of $585k against liabilities of $8,519, net assets of $576k.