Chesapeake College Foundation Inc

Analysis

Chesapeake College Foundation Inc is a registered charity in United States, based in Wye Mills, MD. It received its IRS tax-exemption ruling in August 1981, 45 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Chesapeake College Foundation Inc reported income of $868k and spending of $694k, leaving 20% of income unspent that year. Across the 4 years on record, from June 2020 to June 2023, income fell from $1.6m to $868k (-47%), an average of -19% a year. The sharpest change came in the year to June 2022, when income rose by 114%. Over the whole period it spent 61% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Chesapeake College Foundation Inc sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 77th percentile within MD. Charities of a similar size with the same main cause include Mid States Habonim Camping Assoc Inc ($868k), Ririe-Woodbury Dance Foundation ($868k) and Mental Health America Licking County ($868k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 62% of the total. At year end it held assets of $8.8m against liabilities of $466k, net assets of $8.4m.