Freeport High School Scholarship Foundation

Analysis

Freeport High School Scholarship Foundation is a registered charity in United States, based in Freeport, ME. It received its IRS tax-exemption ruling in July 2021, 5 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 December 2023, Freeport High School Scholarship Foundation reported income of $245k and spending of $51k, leaving 79% of income unspent that year. Across the 3 years on record, from December 2021 to December 2023, income fell from $735k to $245k (-67%), an average of -42% a year. The sharpest change came in the year to December 2022, when income dropped by 63%. Over the whole period it spent 5.5% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Freeport High School Scholarship Foundation sits at the 56th percentile: it is larger than about 56% of them. Against every charity in United States with reported income it ranks in the 58th percentile, and in the 51st percentile within ME. Charities of a similar size with the same main cause include The Gyan Foundation ($244k), Mental Health America of East Central Florida Inc ($245k) and Hosanna Community House Inc ($244k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 89% of the total. At year end it held assets of $1.3m against liabilities of $129k, net assets of $1.2m.