Foundation X

Analysis

Foundation X is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in January 2022, 4 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 (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, Foundation X reported income of $216k and spending of $235k, spending 109% of what it took in. Across the 3 years on record, from December 2021 to December 2023, income grew from $209k to $216k (+3.3%), an average of +1.7% a year. The sharpest change came in the year to December 2022, when income dropped by 101%. Over the whole period it spent 96% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Foundation X sits at the 59th percentile: it is larger than about 59% of them. Against every charity in United States with reported income it ranks in the 55th percentile, and in the 54th percentile within MN. Charities of a similar size with the same main cause include Asi-Austin Texas Inc ($216k), Media Cares Foundation Inc ($216k) and Chicago Engineers Foundation of the Union League Club ($216k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $15k against liabilities of $0, net assets of $15k.