Cagc Foundation Inc

Analysis

Cagc Foundation Inc is a registered charity in United States, based in Charlotte, NC. It received its IRS tax-exemption ruling in May 1989, 37 years ago. 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, Cagc Foundation Inc reported income of $1.8m and spending of $1.9m, spending 108% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $144k to $1.8m (+1118%), an average of +87% a year. The sharpest change came in the year to December 2020, when income rose by 1563%. Over the whole period it spent 106% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Cagc Foundation Inc sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 86th percentile within NC. Charities of a similar size with the same main cause include Westside Community Development Corporation Inc ($1.8m), Greater Largo Library Foundation ($1.8m) and Fogerty Arena the Ice House ($1.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 79% and program service revenue 20% of the total. At year end it held assets of $1.9m against liabilities of $1.4m, net assets of $533k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.