Independent Charitable Gift Fund

Analysis

Independent Charitable Gift Fund is a registered charity in United States, based in Hudson, OH. It received its IRS tax-exemption ruling in September 2016, 10 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 December 2023, Independent Charitable Gift Fund reported income of $157.2m and spending of $53.7m, leaving 66% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $29.5m to $157.2m (+434%), an average of +52% a year. The sharpest change came in the year to December 2021, when income rose by 298%. Over the whole period it spent 23% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Independent Charitable Gift Fund sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within OH. Charities of a similar size with the same main cause include American Gift Fund ($155.8m), Hopewell Fund ($157.7m) and Greater Good Charities ($154.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 93% of the total. Compensation of current officers, directors and key employees was $289k (0.5% of expenses). Other salaries and wages came to $148k. At year end it held assets of $418.2m against liabilities of $33k, net assets of $418.1m. It reported 7 employees.