4th Purpose Foundation

Analysis

4th Purpose Foundation is a registered charity in United States, based in Knoxville, TN. It received its IRS tax-exemption ruling in August 2020, 6 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 supporting organisation (type i) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, 4th Purpose Foundation reported income of $610k and spending of $636k, spending 104% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.3m to $610k (-52%), an average of -17% a year. The sharpest change came in the year to December 2020, when income rose by 570%. Over the whole period it spent 21% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, 4th Purpose Foundation sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 75th percentile within TN. Charities of a similar size with the same main cause include Education Foundation of the Mason City Public Schools ($610k), Partnership for Community Development Ltd ($611k) and Friends of the Lone Soldier Inc ($610k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 3.9% of the total. Other salaries and wages came to $78k. At year end it held assets of $12.5m against liabilities of $2.9m, net assets of $9.6m.

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.