Family Foundation

Analysis

Family Foundation is a registered charity in United States, based in Richmond, VA. It received its IRS tax-exemption ruling in January 1986, 40 years ago. Its declared purposes cover education, which this site groups under education and training. 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, Family Foundation reported income of $1.6m and spending of $1.7m, spending 108% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.1m to $1.6m (+42%), an average of +9.2% a year. The sharpest change came in the year to June 2020, when income rose by 58%. Over the whole period it spent 84% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Family Foundation sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 85th percentile within VA. Charities of a similar size with the same main cause include Washington International School ($1.6m), Kings Academy Inc ($1.6m) and Christian Heritage Academy ($1.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 66% of the total. Compensation of current officers, directors and key employees was $141k (8.0% of expenses). Other salaries and wages came to $914k. At year end it held assets of $3.1m against liabilities of $396k, net assets of $2.7m. It reported 14 employees.