Levitate Foundation Inc

Analysis

Levitate Foundation Inc is a registered charity in United States, based in Marshfield, MA. It received its IRS tax-exemption ruling in November 2021, 5 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 publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Levitate Foundation Inc reported income of $261k and spending of $129k, leaving 51% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $87k to $261k (+199%), an average of +199% a year. The sharpest change came in the year to December 2023, when income rose by 199%. Over the whole period it spent 37% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Levitate Foundation Inc sits at the 63rd percentile: it is larger than about 63% of them. Against every charity in United States with reported income it ranks in the 59th percentile, and in the 61st percentile within MA. Charities of a similar size with the same main cause include Lev Tamim Inc ($261k), Central Valley Health Foundation ($261k) and Trinity Community Foundation ($261k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 83% of the total. Other salaries and wages came to $43k. At year end it held assets of $284k against liabilities of $0, net assets of $284k. It reported 1 employees.