Fifth Third Charitable Gift Fund

Analysis

Fifth Third Charitable Gift Fund is a registered charity in United States, based in Farmington Hills, MI. It received its IRS tax-exemption ruling in June 2006, 20 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, Fifth Third Charitable Gift Fund reported income of $13.0m and spending of $16.6m, spending 128% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income fell from $17.2m to $13.0m (-24%), an average of -8.9% a year. The sharpest change came in the year to June 2022, when income dropped by 37%. Over the whole period it spent 79% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Fifth Third Charitable Gift Fund sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within MI. Charities of a similar size with the same main cause include Peter E Haas Jr Family Fund ($13.0m), Mid-Shore Community Foundation Inc ($13.0m) and United Way Inc Dba United Way of Central & Northeastern CT ($13.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 81% of the total. At year end it held assets of $78.3m against liabilities of $93k, net assets of $78.2m.