Gloucester Scholarship Foundation Inc

Analysis

Gloucester Scholarship Foundation Inc is a registered charity in United States, based in Gloucester, MA. It received its IRS tax-exemption ruling in June 2014, 12 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Gloucester Scholarship Foundation Inc reported income of $56k and spending of $55k, spending 99% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $183k to $56k (-69%), an average of -26% a year. The sharpest change came in the year to December 2021, when income rose by 162%. Over the whole period it spent 54% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Gloucester Scholarship Foundation Inc sits at the 24th percentile: it is larger than about 24% of them. Against every charity in United States with reported income it ranks in the 22nd percentile, and in the 31st percentile within MA. Charities of a similar size with the same main cause include Willmar Band Boosters Inc ($56k), Society of Nuclear Medicine & Molecular Imaging-Mo Valley Chaptr ($56k) and Soaring Eagle Education Foundation ($56k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 18% of the total. At year end it held assets of $1.7m against liabilities of $0, net assets of $1.7m.