Finsocial Foundation Corp

Analysis

Finsocial Foundation Corp is a registered charity in United States, based in Coral Gables, FL. It received its IRS tax-exemption ruling in June 2019, 7 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 December 2023, Finsocial Foundation Corp reported income of $114k and spending of $156k, spending 137% of what it took in. Across the 3 years on record, from December 2021 to December 2023, income fell from $119k to $114k (-3.7%), an average of -1.9% a year. The sharpest change came in the year to December 2022, when income rose by 42%. Over the whole period it spent 51% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Finsocial Foundation Corp sits at the 38th percentile: it is larger than about 38% of them. Against every charity in United States with reported income it ranks in the 40th percentile, and in the 44th percentile within FL. Charities of a similar size with the same main cause include Roanoke Foundation for Downtown Inc ($114k), Center for Empowerment Initiatives ($114k) and Grace and Peace Community Ministries ($114k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 45% of the total. At year end it held assets of $197k against liabilities of $677, net assets of $196k.