Thomas a Costello Legacy Foundation

Analysis

Thomas a Costello Legacy Foundation is a registered charity in United States, based in Chaska, MN. It received its IRS tax-exemption ruling in March 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, Thomas a Costello Legacy Foundation reported income of $108k and spending of $58k, leaving 46% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income fell from $220k to $108k (-51%), an average of -51% a year. The sharpest change came in the year to December 2023, when income dropped by 51%. Over the whole period it spent 31% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Thomas a Costello Legacy Foundation sits at the 44th percentile: it is larger than about 44% of them. Against every charity in United States with reported income it ranks in the 39th percentile, and in the 36th percentile within MN. Charities of a similar size with the same main cause include Capitalists for Shared Income ($108k), United Way of Kaufman County ($108k) and Rotary Club of Peachtree City Foundation Inc ($108k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 77% of the total. At year end it held assets of $225k against liabilities of $0, net assets of $225k.