Gfyc Foundation Inc

Analysis

Gfyc Foundation Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in March 2019, 7 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, Gfyc Foundation Inc reported income of $142k and spending of $171k, spending 121% of what it took in. Across the 4 years on record, from December 2019 to December 2023, income grew from $118k to $142k (+21%), an average of +6.5% a year. The sharpest change came in the year to December 2023, when income rose by 47%. Over the whole period it spent 101% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Gfyc Foundation Inc sits at the 51st percentile: it is larger than about 51% of them. Against every charity in United States with reported income it ranks in the 46th percentile, and in the 44th percentile within NY. Charities of a similar size with the same main cause include Ascension Lutheran Church Foundation ($142k), Hope 4 Inc ($142k) and Capital City Pride ($142k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 159% of the total. It paid $63k in professional fundraising fees. At year end it held assets of $119k against liabilities of $0, net assets of $119k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.