7 Figure Foundation

Analysis

7 Figure Foundation is a registered charity in United States, based in Layton, UT. It received its IRS tax-exemption ruling in July 2022, 4 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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, 7 Figure Foundation reported income of $168k and spending of $176k, spending 105% of its income. Across the 3 years on record, from December 2021 to December 2023, income fell from $230k to $168k (-27%), an average of -15% a year. The sharpest change came in the year to December 2022, when income dropped by 24%. Over the whole period it spent 70% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, 7 Figure Foundation sits at the 60th percentile: it is larger than about 60% of them. Against every charity in United States with reported income it ranks in the 50th percentile, and in the 48th percentile within UT. Charities of a similar size with the same main cause include Grace Korean Church ($168k), Jesus Reconciliation Ministries ($168k) and Rough Cut Men Ministries Inc ($168k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $40k (23% of expenses). At year end it held assets of $174k against liabilities of $0, net assets of $174k.