Garrett Community College Foundation Inc

Analysis

Garrett Community College Foundation Inc is a registered charity in United States, based in McHenry, MD. It received its IRS tax-exemption ruling in March 1993, 33 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a organisation supporting a government-owned college or university under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Garrett Community College Foundation Inc reported income of $1.0m and spending of $1.1m, spending 106% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $3.2m to $1.0m (-67%), an average of -24% a year. The sharpest change came in the year to June 2021, when income rose by 150%. Over the whole period it spent 56% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Garrett Community 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 80th percentile, and in the 79th percentile within MD. Charities of a similar size with the same main cause include Spiritual Arts Institute ($1.0m), Hold on to Your Music Inc ($1.0m) and Friends of the Jones Library System Inc ($1.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 46% and program service revenue 45% of the total. At year end it held assets of $12.0m against liabilities of $6.0m, net assets of $6.0m.