Independence Foundation Inc

Analysis

Independence Foundation Inc is a registered charity in United States, based in Baltimore, MD. It received its IRS tax-exemption ruling in July 2014, 12 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Independence Foundation Inc reported income of $162k and spending of $172k, spending 106% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $284k to $162k (-43%), an average of -13% a year. The sharpest change came in the year to December 2021, when income dropped by 37%. Over the whole period it spent 101% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Independence Foundation Inc sits at the 44th percentile: it is larger than about 44% of them. Against every charity in United States with reported income it ranks in the 49th percentile, and in the 49th percentile within MD. Charities of a similar size with the same main cause include Danville Police Associationcharitableorganization ($162k), National House of Hope Inc ($162k) and Partners for Patriots Inc ($162k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $71k. At year end it held assets of $258k against liabilities of $55k, net assets of $203k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.