318 Foundation Inc

Analysis

318 Foundation Inc is a registered charity in United States, based in Gaithersburg, MD. It received its IRS tax-exemption ruling in July 2021, 5 years ago. Its declared purposes cover youth development, which this site groups under children and youth development. 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, 318 Foundation Inc reported income of $522k and spending of $234k, leaving 55% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $100k to $522k (+419%), an average of +419% a year. The sharpest change came in the year to December 2023, when income rose by 419%. Over the whole period it spent 46% of the income it received.

Among 14,332 United States charities whose main cause is children and youth development and that reported income, 318 Foundation Inc sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 70th percentile within MD. Charities of a similar size with the same main cause include Fundacion Atencion Atencion Inc ($522k), Carrizo Bright Future Learning Inc ($522k) and Refuge and Hope International ($521k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $53k (23% of expenses). Other salaries and wages came to $16k. At year end it held assets of $344k against liabilities of $0, net assets of $344k. It reported 2 employees.