Collegebound Foundation Inc

Analysis

Collegebound Foundation Inc is a registered charity in United States, based in Baltimore, MD. It received its IRS tax-exemption ruling in March 1989, 37 years ago. 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, Collegebound Foundation Inc reported income of $8.6m and spending of $6.0m, leaving 30% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $5.0m to $8.6m (+73%), an average of +15% a year. The sharpest change came in the year to June 2021, when income rose by 67%. Over the whole period it spent 77% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Collegebound Foundation Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 94th percentile within MD. Charities of a similar size with the same main cause include Mills River Volunteer Fire Department Inc ($8.6m), Particular Council of St Vincent de Paul of Baton Rouge Lousiana ($8.6m) and The Arc of Iroquois County ($8.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 84% of the total. Compensation of current officers, directors and key employees was $574k (9.5% of expenses). Other salaries and wages came to $2.2m. At year end it held assets of $40.2m against liabilities of $943k, net assets of $39.2m. It reported 61 employees.