Nextgen Chamber of Commerce Foundation

Analysis

Nextgen Chamber of Commerce Foundation is a registered charity in United States, based in Washington, DC. It received its IRS tax-exemption ruling in June 2020, 6 years ago. 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, Nextgen Chamber of Commerce Foundation reported income of $186k and spending of $266k, spending 143% of what it took in. Across the 4 years on record, from December 2020 to December 2023, income fell from $674k to $186k (-72%), an average of -35% a year. The sharpest change came in the year to December 2022, when income dropped by 76%. Over the whole period it spent 90% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Nextgen Chamber of Commerce Foundation 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 52nd percentile, and in the 28th percentile within DC. Charities of a similar size with the same main cause include Newark Partnership Inc ($186k), Cube Basketball Inc ($186k) and Corning Institute for Education and Research ($186k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $62k. At year end it held assets of $183k against liabilities of $0, net assets of $183k. It reported 1 employees.

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.