Foundations Inc

Analysis

Foundations Inc is a registered charity in United States, based in Mount Laurel, NJ. It received its IRS tax-exemption ruling in March 1993, 33 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 August 2023, Foundations Inc reported income of $10.4m and spending of $10.4m, spending 100% of its income. Across the 5 years on record, from August 2019 to August 2023, income grew from $7.9m to $10.4m (+32%), an average of +7.1% a year. Over the whole period it spent 95% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Foundations 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 95th percentile, and in the 96th percentile within NJ. Charities of a similar size with the same main cause include The Pacific Forest Trust Incorporated ($10.4m), Instituto Socio-Economico Comunitario Inc ($10.4m) and Safe & Sound ($10.4m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 44% and program service revenue 55% of the total. Compensation of current officers, directors and key employees was $794k (7.6% of expenses). Other salaries and wages came to $5.2m. At year end it held assets of $6.1m against liabilities of $1.6m, net assets of $4.6m. It reported 485 employees.