Driven Brands Charitable Foundation

Analysis

Driven Brands Charitable Foundation is a registered charity in United States, based in Charlotte, NC. It received its IRS tax-exemption ruling in February 2013, 13 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, Driven Brands Charitable Foundation reported income of $2.0m and spending of $2.6m, spending 129% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.2m to $2.0m (+61%), an average of +13% a year. The sharpest change came in the year to December 2021, when income rose by 28%. Over the whole period it spent 108% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Driven Brands Charitable Foundation sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 87th percentile within NC. Charities of a similar size with the same main cause include Wolasky Family Foundation Inc ($2.0m), Childrens Home Foundation ($2.0m) and Charleston Jewish Federation ($2.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 97% of the total. At year end it held assets of $471k against liabilities of $0, net assets of $471k.