McCourt Foundation Inc

Analysis

McCourt Foundation Inc is a registered charity in United States, based in South Boston, MA. It received its IRS tax-exemption ruling in February 2011, 15 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, McCourt Foundation Inc reported income of $8.6m and spending of $11.3m, spending 132% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $24.8m to $8.6m (-65%), an average of -23% a year. The sharpest change came in the year to December 2020, when income dropped by 62%. Over the whole period it spent 67% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, McCourt Foundation Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 93rd percentile within MA. Charities of a similar size with the same main cause include Hutchinson Community Foundation ($8.6m), American Friends of the Royal Foundation of the Duke and Duchess ($8.6m) and United Way of the Coastal Empire Inc ($8.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 34% and program service revenue 67% of the total. Compensation of current officers, directors and key employees was $90k (0.8% of expenses). Other salaries and wages came to $2.0m. At year end it held assets of $19.9m against liabilities of $4.8m, net assets of $15.1m. It reported 16 employees.