Wealthnet Charitable Gift Fund

Analysis

Wealthnet Charitable Gift Fund is a registered charity in United States, based in San Rafael, CA. It received its IRS tax-exemption ruling in November 2002, 24 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 October 2023, Wealthnet Charitable Gift Fund reported income of $797k and spending of $546k, leaving 32% of income unspent that year. Across the 5 years on record, from October 2019 to October 2023, income grew from $220k to $797k (+263%), an average of +38% a year. The sharpest change came in the year to October 2020, when income rose by 358%. Over the whole period it spent 103% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Wealthnet Charitable Gift Fund sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 78th percentile within CA. Charities of a similar size with the same main cause include Homestead Station Qalicb Inc ($797k), Beth Abraham-Cnr Foundation ($798k) and Trail Blazers Foundation ($797k).

On its Form 990 for the period ending October 2023, revenue came from contributions and grants 87% of the total. At year end it held assets of $4.3m against liabilities of $0, net assets of $4.3m.