The Foundry Consortium Inc

Analysis

The Foundry Consortium Inc is a registered charity in United States, based in Cambridge, MA. 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 June 2023, The Foundry Consortium Inc reported income of $1.0m and spending of $970k, spending 94% of its income. Across the 2 years on record, from June 2022 to June 2023, income grew from $172k to $1.0m (+502%), an average of +502% a year. The sharpest change came in the year to June 2023, when income rose by 502%. Over the whole period it spent 96% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, The Foundry Consortium Inc sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 79th percentile within MA. Charities of a similar size with the same main cause include Georgia Agape Inc ($1.0m), Veterans on the Lake Resort ($1.0m) and Volunteers of America Inc ($1.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 3.8% and program service revenue 96% of the total. Compensation of current officers, directors and key employees was $129k (13% of expenses). Other salaries and wages came to $347k. At year end it held assets of $109k against liabilities of $41k, net assets of $68k. It reported 7 employees.