Schenectady Foundation Inc

Analysis

Schenectady Foundation Inc is a registered charity in United States, based in Schenectady, NY. It received its IRS tax-exemption ruling in October 2010, 16 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 supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Schenectady Foundation Inc reported income of $737k and spending of $917k, spending 124% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $937k to $737k (-21%), an average of -5.8% a year. The sharpest change came in the year to December 2023, when income dropped by 33%. 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, Schenectady Foundation Inc sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 72nd percentile within NY. Charities of a similar size with the same main cause include Fmi Foundation ($737k), Mountain Mission School Endowment Foundation ($737k) and Montclair Fund for Educational Excellence Inc ($736k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $173k (19% of expenses). Other salaries and wages came to $220k. At year end it held assets of $672k against liabilities of $204k, net assets of $468k. It reported 7 employees.