Cape Ann Community Foundation

Analysis

Cape Ann Community Foundation is a registered charity in United States, based in Gloucester, MA. It received its IRS tax-exemption ruling in September 2015, 11 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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, Cape Ann Community Foundation reported income of $96k and spending of $119k, spending 123% of what it took in. Across the 3 years on record, from December 2021 to December 2023, income fell from $254k to $96k (-62%), an average of -38% a year. The sharpest change came in the year to December 2022, when income dropped by 52%. Over the whole period it spent 76% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Cape Ann Community 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 36th percentile, and in the 43rd percentile within MA. Charities of a similar size with the same main cause include 1 Michigan for the Global Majority Inc ($96k), Rhode Island Police Accreditation Commission ($96k) and Michigan Tactical Officers Association Inc ($96k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 1.8% and program service revenue 48% of the total. At year end it held assets of $257k against liabilities of $11k, net assets of $246k.