2040 Foundation Inc

Analysis

2040 Foundation Inc is a registered charity in United States, based in Charlotte, NC. It received its IRS tax-exemption ruling in August 2014, 12 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 supporting organisation (type i) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, 2040 Foundation Inc reported income of $393k and spending of $16.5m, spending 4204% of what it took in. The sharpest change came in the year to December 2022, when income dropped by 118%. Over the whole period it spent 599% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, 2040 Foundation Inc sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 65th percentile within NC. Charities of a similar size with the same main cause include Building on Love Inc ($393k), Alice E Sias Trust Uw T-15172 Fbo Lahey Clinic Foundation ($393k) and Gasconade County Fair Foundation Incorporated ($393k).

At year end it held assets of $100.0m against liabilities of $399k, net assets of $99.7m.

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.