Gulf Coast Community Foundation Inc

Analysis

Gulf Coast Community Foundation Inc is a registered charity in United States, based in Venice, FL. It received its IRS tax-exemption ruling in July 1966, 60 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 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, Gulf Coast Community Foundation Inc reported income of $51.1m and spending of $50.5m, spending 99% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $73.1m to $51.1m (-30%), an average of -8.6% a year. The sharpest change came in the year to June 2021, when income rose by 66%. Over the whole period it spent 71% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Gulf Coast Community Foundation Inc sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within FL. Charities of a similar size with the same main cause include Greater Twin Cities United Way ($50.9m), The New Horizons Foundation Inc ($51.2m) and Community Foundation Santa Cruz County ($50.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 86% and program service revenue 7.6% of the total. Compensation of current officers, directors and key employees was $1.5m (2.9% of expenses). Other salaries and wages came to $955k. At year end it held assets of $444.0m against liabilities of $27.0m, net assets of $416.9m. It reported 31 employees.