Foundation 1023

Analysis

Foundation 1023 is a registered charity in United States, based in Fairfield, TX. It received its IRS tax-exemption ruling in June 2016, 10 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 December 2023, Foundation 1023 reported income of $93k and spending of $123k, spending 132% of what it took in. Across the 3 years on record, from December 2021 to December 2023, income fell from $246k to $93k (-62%), an average of -38% a year. The sharpest change came in the year to December 2022, when income rose by 118%. Over the whole period it spent 99% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Foundation 1023 sits at the 31st percentile: it is larger than about 31% of them. Against every charity in United States with reported income it ranks in the 35th percentile, and in the 37th percentile within TX. Charities of a similar size with the same main cause include Community Food Bank of Franklin County ($93k), Renacer Inc ($93k) and Denton Child Development Center ($93k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 105% of the total. At year end it held assets of $28k against liabilities of $0, net assets of $28k.