Florida Chamber of Commerce Foundation Inc

Analysis

Florida Chamber of Commerce Foundation Inc is a registered charity in United States, based in Tallahassee, FL. It received its IRS tax-exemption ruling in May 1968, 58 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 October 2022, Florida Chamber of Commerce Foundation Inc reported income of $4.4m and spending of $2.5m, leaving 44% of income unspent that year. Across the 4 years on record, from October 2019 to October 2022, income grew from $1.9m to $4.4m (+130%), an average of +32% a year. The sharpest change came in the year to October 2022, when income rose by 82%. Over the whole period it spent 70% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Florida Chamber of Commerce Foundation Inc sits at the 91st percentile: it is larger than about 91% 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 YMCA of Waycross Georgia Inc ($4.4m), YWCA of Eastern Union County ($4.4m) and Habitat for Humanity Northshore West ($4.4m).

On its Form 990 for the period ending October 2022, revenue came from contributions and grants 47% and program service revenue 31% of the total. Compensation of current officers, directors and key employees was $444k (18% of expenses). Other salaries and wages came to $700k. At year end it held assets of $7.6m against liabilities of $310k, net assets of $7.3m. It reported 8 employees.