Friends of Congress Square Park

Analysis

Friends of Congress Square Park is a registered charity in United States, based in Portland, ME. It received its IRS tax-exemption ruling in January 2015, 11 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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, Friends of Congress Square Park reported income of $139k and spending of $98k, leaving 30% of income unspent that year. Across the 3 years on record, from December 2021 to December 2023, income fell from $333k to $139k (-58%), an average of -35% a year. The sharpest change came in the year to December 2023, when income dropped by 42%. Over the whole period it spent 48% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Friends of Congress Square Park sits at the 43rd percentile: it is larger than about 42% of them. Against every charity in United States with reported income it ranks in the 45th percentile, and in the 38th percentile within ME. Charities of a similar size with the same main cause include Junior League of Santa Barbara Inc ($139k), Greater Lake City Community Foundation ($139k) and Junior League of Pensacola ($139k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $47k. It paid $3,463 in professional fundraising fees. At year end it held assets of $504k against liabilities of $0, net assets of $504k. It reported 2 employees.