Joe Garassino Foundation Inc

Analysis

Joe Garassino Foundation Inc is a registered charity in United States, based in Watertown, CT. It received its IRS tax-exemption ruling in August 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, Joe Garassino Foundation Inc reported income of $85k and spending of $61k, leaving 28% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $62k to $85k (+36%), an average of +8.0% a year. The sharpest change came in the year to December 2021, when income rose by 619%. Over the whole period it spent 46% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Joe Garassino Foundation Inc sits at the 38th percentile: it is larger than about 38% of them. Against every charity in United States with reported income it ranks in the 32nd percentile, and in the 30th percentile within CT. Charities of a similar size with the same main cause include Chicago Memon Association ($85k), Elmhurst Childrens Assistance Foundation Inc ($85k) and Queesboro Unico Foundation Inc ($85k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 17% of the total. At year end it held assets of $472k against liabilities of $0, net assets of $472k.