Foundation for Frostburg Inc

Analysis

Foundation for Frostburg Inc is a registered charity in United States, based in Frostburg, MD. It received its IRS tax-exemption ruling in September 1995, 31 years ago. Its declared purposes cover recreation and sports, which this site groups under amateur sport and recreation. 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 December 2023, Foundation for Frostburg Inc reported income of $335k and spending of $150k, leaving 55% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $184k to $335k (+82%), an average of +16% a year. The sharpest change came in the year to December 2023, when income rose by 191%. Over the whole period it spent 55% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Foundation for Frostburg Inc sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 64th percentile, and in the 63rd percentile within MD. Charities of a similar size with the same main cause include Rocky River Parks and Recreation Foundation ($335k), Ely Igloo Snowmobile Club Inc ($335k) and Youth Soccer Club of East Columbus Inc ($335k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 84% of the total. At year end it held assets of $904k against liabilities of $0, net assets of $904k.