Cannasense Foundation

Analysis

Cannasense Foundation is a registered charity in United States, based in Hightstown, NJ. It received its IRS tax-exemption ruling in March 2023, 3 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Cannasense Foundation reported income of $59k and spending of $27k, leaving 55% of income unspent that year. Across the 3 years on record, from December 2021 to December 2023, income fell from $97k to $59k (-39%), an average of -22% a year. The sharpest change came in the year to December 2023, when income rose by 158%. Over the whole period it spent 57% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Cannasense Foundation sits at the 20th percentile: it is larger than about 20% of them. Against every charity in United States with reported income it ranks in the 23rd percentile, and in the 30th percentile within NJ. Charities of a similar size with the same main cause include Growing Healthy People NFP ($59k), Your Move Mke ($59k) and Soutwest Asylum and Migration Institute ($59k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 99% of the total. At year end it held assets of $199k against liabilities of $0, net assets of $199k.