Community Foundation of Broward Inc

Analysis

Community Foundation of Broward Inc is a registered charity in United States, based in Fort Lauderdale, FL. It received its IRS tax-exemption ruling in November 1988, 38 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, Community Foundation of Broward Inc reported income of $24.2m and spending of $25.1m, spending 104% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $25.0m to $24.2m (-3.0%), an average of -0.8% a year. The sharpest change came in the year to June 2021, when income rose by 40%. Over the whole period it spent 78% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Community Foundation of Broward Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 98th percentile within FL. Charities of a similar size with the same main cause include Igrb Foundation ($24.1m), Aurora Health Care Foundation Inc ($24.4m) and United Way of Rhode Island Inc ($24.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 81% of the total. Compensation of current officers, directors and key employees was $1.1m (4.3% of expenses). Other salaries and wages came to $1.4m. At year end it held assets of $257.4m against liabilities of $25.0m, net assets of $232.5m. It reported 23 employees.