Third Option Foundation

Analysis

Third Option Foundation is a registered charity in United States, based in Reston, VA. It received its IRS tax-exemption ruling in August 2014, 12 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, Third Option Foundation reported income of $9.1m and spending of $6.4m, leaving 30% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $7.3m to $9.1m (+25%), an average of +5.7% a year. The sharpest change came in the year to December 2021, when income rose by 595%. Over the whole period it spent 51% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Third Option Foundation sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 95th percentile within VA. Charities of a similar size with the same main cause include Butler County Family Young Mens Christian Association ($9.1m), Iam-3rivers Inc ($9.1m) and North Seattle Community College Foundation ($9.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 89% of the total. Compensation of current officers, directors and key employees was $530k (8.3% of expenses). Other salaries and wages came to $144k. At year end it held assets of $34.6m against liabilities of $518k, net assets of $34.1m. It reported 8 employees.