Elbie and Wilma Gann Memorial Foundation

Analysis

Elbie and Wilma Gann Memorial Foundation is a registered charity in United States, based in Carbondale, CO. It received its IRS tax-exemption ruling in August 1984, 42 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending August 2023, Elbie and Wilma Gann Memorial Foundation reported income of $686k and spending of $742k, spending 108% of what it took in. Across the 5 years on record, from August 2019 to August 2023, income fell from $692k to $686k (-0.9%), an average of -0.2% a year. The sharpest change came in the year to August 2021, when income dropped by 22%. Over the whole period it spent 105% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Elbie and Wilma Gann Memorial Foundation sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 73rd percentile within CO. Charities of a similar size with the same main cause include Linville Foundation Inc ($686k), Aum Education Society of Texas ($686k) and Virginia Society for Technology in Education ($686k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 10% and program service revenue 85% of the total. Compensation of current officers, directors and key employees was $73k (9.9% of expenses). Other salaries and wages came to $463k. At year end it held assets of $825k against liabilities of $15k, net assets of $810k. It reported 22 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.