Gulf Coast State College Foundation Inc

Analysis

Gulf Coast State College Foundation Inc is a registered charity in United States, based in Panama City, FL. It received its IRS tax-exemption ruling in November 1970, 56 years ago. 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 2024, Gulf Coast State College Foundation Inc reported income of $2.3m and spending of $4.0m, spending 175% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income grew from $1.3m to $2.3m (+80%), an average of +16% a year. The sharpest change came in the year to June 2022, when income rose by 176%. Over the whole period it spent 123% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Gulf Coast State College Foundation Inc sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 88th percentile within FL. Charities of a similar size with the same main cause include Vashon Maury Community Food Bank ($2.3m), Empower Cherokee of Ga Inc ($2.3m) and Central New York Ronald McDonald House Charities Inc ($2.3m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 61% of the total. Compensation of current officers, directors and key employees was $209k (5.3% of expenses). Other salaries and wages came to $334k. At year end it held assets of $36.9m against liabilities of $119k, net assets of $36.8m. It reported 5 employees.