Donovan and Bank Foundation

Analysis

Donovan and Bank Foundation is a registered charity in United States, based in Wilmington, NC. It received its IRS tax-exemption ruling in March 2022, 4 years ago. Its declared purposes cover public and societal benefit, which this site groups under other charitable 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, Donovan and Bank Foundation reported income of $890k and spending of $884k, spending 99% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $645k to $890k (+38%), an average of +38% a year. The sharpest change came in the year to December 2023, when income rose by 38%. Over the whole period it spent 88% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Donovan and Bank Foundation sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 78th percentile within NC. Charities of a similar size with the same main cause include National Human Services Assembly ($890k), Abuse Network Inc ($890k) and Center for Spiritual Studies of California ($890k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $223k. At year end it held assets of $209k against liabilities of $21k, net assets of $188k. It reported 3 employees.