Balmer Foundation Inc

Analysis

Balmer Foundation Inc is a registered charity in United States, based in Spartanburg, SC. It received its IRS tax-exemption ruling in March 2001, 25 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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, Balmer Foundation Inc reported income of $887k and spending of $5.5m, spending 619% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.1m to $887k (-22%), an average of -6.0% a year. The sharpest change came in the year to December 2023, when income rose by 440%. Over the whole period it spent 158% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Balmer Foundation Inc sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 81st percentile within SC. Charities of a similar size with the same main cause include Tag Education Collaborative Inc ($886k), Inevitable Foundation ($887k) and Hawaii Island United Way Inc ($886k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 26% of the total. At year end it held assets of $33.0m against liabilities of $0, net assets of $33.0m.

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.