Community Foundations Inc

Analysis

Community Foundations Inc is a registered charity in United States, based in Mooresville, NC. It received its IRS tax-exemption ruling in May 1998, 28 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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 December 2022, Community Foundations Inc reported income of $169k and spending of $122k, leaving 27% of income unspent that year. Across the 2 years on record, from December 2021 to December 2022, income fell from $222k to $169k (-24%), an average of -24% a year. The sharpest change came in the year to December 2022, when income dropped by 24%. Over the whole period it spent 55% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Community Foundations Inc sits at the 34th percentile: it is larger than about 34% of them. Against every charity in United States with reported income it ranks in the 50th percentile, and in the 47th percentile within NC. Charities of a similar size with the same main cause include Aspen Drive Housing Inc ($169k), Mama Nyumba II ($169k) and Blackford Grant Housing Authority Inc ($168k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 94% of the total. Other salaries and wages came to $89k. At year end it held assets of $504k against liabilities of $3,185, net assets of $501k. It reported 3 employees.