FCLT Co

Analysis

FCLT Co is a registered charity in United States, based in Boston, MA. It received its IRS tax-exemption ruling in December 2017, 9 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 June 2023, FCLT Co reported income of $5.5m and spending of $4.7m, spending 85% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $3.6m to $5.5m (+53%), an average of +11% a year. The sharpest change came in the year to June 2021, when income rose by 32%. Over the whole period it spent 85% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, FCLT Co sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 91st percentile within MA. Charities of a similar size with the same main cause include Western South Dakota Community Action Inc ($5.5m), Downtown Phoenix Inc ($5.5m) and Ravalli Services Corporation ($5.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 67% and program service revenue 31% of the total. Compensation of current officers, directors and key employees was $1.5m (32% of expenses). At year end it held assets of $6.3m against liabilities of $1.4m, net assets of $4.9m. It reported 24 employees.