Foundations in Education Inc

Analysis

Foundations in Education Inc is a registered charity in United States, based in Shelton, CT. It received its IRS tax-exemption ruling in June 2016, 10 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, Foundations in Education Inc reported income of $7.0m and spending of $6.1m, spending 87% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $12.1m to $7.0m (-42%), an average of -13% a year. The sharpest change came in the year to June 2020, when income dropped by 52%. Over the whole period it spent 66% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Foundations in Education Inc 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 94th percentile, and in the 92nd percentile within CT. Charities of a similar size with the same main cause include Irvine Public Schools Foundation ($7.0m), Cfleads ($7.0m) and Jewish Federation of Southern Arizona ($7.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 87% of the total. Compensation of current officers, directors and key employees was $172k (2.8% of expenses). Other salaries and wages came to $189k. At year end it held assets of $40.4m against liabilities of $3.6m, net assets of $36.8m. It reported 6 employees.