Fremont Area Community Foundation Inc

Analysis

Fremont Area Community Foundation Inc is a registered charity in United States, based in Fremont, NE. It received its IRS tax-exemption ruling in July 1983, 43 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 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 June 2023, Fremont Area Community Foundation Inc reported income of $3.5m and spending of $3.9m, spending 114% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income fell from $4.1m to $3.5m (-15%), an average of -5.4% a year. The sharpest change came in the year to June 2023, when income dropped by 29%. Over the whole period it spent 71% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Fremont Area Community Foundation Inc sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 89th percentile within NE. Charities of a similar size with the same main cause include Center for Energy Workforcedevelopment ($3.4m), Washington County Community Foundation Inc ($3.5m) and Adirondack Medical Center Foundation ($3.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 67% and program service revenue 10% of the total. Compensation of current officers, directors and key employees was $100k (2.5% of expenses). Other salaries and wages came to $110k. At year end it held assets of $27.9m against liabilities of $1.8m, net assets of $26.0m. It reported 4 employees.