Flagstone Initiative

Analysis

Flagstone Initiative is a registered charity in United States, based in Poughkeepsie, NY. It received its IRS tax-exemption ruling in August 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, Flagstone Initiative reported income of $284k and spending of $607k, spending 214% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income fell from $842k to $284k (-66%), an average of -66% a year. The sharpest change came in the year to December 2023, when income dropped by 66%. Over the whole period it spent 89% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Flagstone Initiative sits at the 65th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 61st percentile, and in the 58th percentile within NY. Charities of a similar size with the same main cause include Tony Laudadio Foundation ($284k), Willamette Valley Cancer Foundation ($284k) and Kipas Tzedukah Inc ($284k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% of the total. Other salaries and wages came to $498k. At year end it held assets of $163k against liabilities of $41k, net assets of $122k. It reported 5 employees.