Fairmont State Foundation Inc

Analysis

Fairmont State Foundation Inc is a registered charity in United States, based in Fairmont, WV. It received its IRS tax-exemption ruling in December 1962, 64 years ago. Its declared purposes cover education, which this site groups under education and training. 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, Fairmont State Foundation Inc reported income of $2.1m and spending of $3.1m, spending 152% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income fell from $4.1m to $2.1m (-49%), an average of -20% a year. The sharpest change came in the year to June 2021, when income rose by 121%. Over the whole period it spent 64% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Fairmont State Foundation Inc sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 86th percentile within WV. Charities of a similar size with the same main cause include Northern Rush County Schools Inc ($2.1m), Cayl Institute Inc ($2.1m) and National Business Education Association ($2.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 85% and program service revenue 4.0% of the total. Compensation of current officers, directors and key employees was $200k (6.4% of expenses). Other salaries and wages came to $315k. At year end it held assets of $39.3m against liabilities of $429k, net assets of $38.8m. It reported 9 employees.