Gems Development Foundation

Analysis

Gems Development Foundation is a registered charity in United States, based in Alexandria, VA. It received its IRS tax-exemption ruling in November 2018, 8 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, Gems Development Foundation reported income of $106k and spending of $139k, spending 131% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $384k to $106k (-73%), an average of -28% a year. The sharpest change came in the year to December 2020, when income dropped by 44%. Over the whole period it spent 102% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Gems Development Foundation sits at the 34th percentile: it is larger than about 34% of them. Against every charity in United States with reported income it ranks in the 38th percentile, and in the 38th percentile within VA. Charities of a similar size with the same main cause include Global Community Outreach ($106k), B1 Foundation ($106k) and Family Safety Foundation ($106k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $22k (16% of expenses). At year end it held assets of $39k against liabilities of $0, net assets of $39k.