Admirals Cove Foundation Inc

Analysis

Admirals Cove Foundation Inc is a registered charity in United States, based in Jupiter, FL. It received its IRS tax-exemption ruling in June 2005, 21 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 April 2024, Admirals Cove Foundation Inc reported income of $4.4m and spending of $4.1m, spending 94% of its income. Across the 5 years on record, from April 2020 to April 2024, income grew from $2.0m to $4.4m (+115%), an average of +21% a year. The sharpest change came in the year to April 2022, when income rose by 69%. Over the whole period it spent 95% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Admirals Cove Foundation Inc sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 93rd percentile within FL. Charities of a similar size with the same main cause include Jesuit Volunteer Corps Northwest ($4.3m), Horizon Institute for Public Service ($4.4m) and National Catholic Community Foundation ($4.3m).

On its Form 990 for the period ending April 2024, revenue came from contributions and grants 94% of the total. Other salaries and wages came to $143k. At year end it held assets of $1.0m against liabilities of $140k, net assets of $888k. It reported 2 employees.