Technology Council of Maryland Foundation Inc

Analysis

Technology Council of Maryland Foundation Inc is a registered charity in United States, based in Rockville, MD. It received its IRS tax-exemption ruling in January 1989, 37 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 under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Technology Council of Maryland Foundation Inc reported income of $76k and spending of $170k, spending 225% of what it took in. Across the 2 years on record, from June 2022 to June 2023, income fell from $155k to $76k (-51%), an average of -51% a year. The sharpest change came in the year to June 2023, when income dropped by 51%. Over the whole period it spent 135% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Technology Council of Maryland Foundation Inc sits at the 29th percentile: it is larger than about 29% of them. Against every charity in United States with reported income it ranks in the 30th percentile, and in the 31st percentile within MD. Charities of a similar size with the same main cause include Harraseeket Foundation ($75k), Love 4 Life Association ($76k) and Alma Randolph Charitable Foundation Inc ($75k).

On its Form 990-EZ for the period ending June 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $147k against liabilities of $116k, net assets of $31k.