Ghent District Foundation

Analysis

Ghent District Foundation is a registered charity in United States, based in Norfolk, VA. It received its IRS tax-exemption ruling in September 2021, 5 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Ghent District Foundation reported income of $67k and spending of $34k, leaving 50% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $2,775 to $67k (+2312%), an average of +2312% a year. The sharpest change came in the year to December 2023, when income rose by 2312%. Over the whole period it spent 48% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Ghent District Foundation sits at the 26th percentile: it is larger than about 26% of them. Against every charity in United States with reported income it ranks in the 26th percentile, and in the 26th percentile within VA. Charities of a similar size with the same main cause include Miss Jennie Ruth Corn Endowment ($67k), Orthodox Christian Academy of Atlanta Inc ($67k) and Brooklyn Heights Music Society Inc ($67k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 133% of the total. At year end it held assets of $36k against liabilities of $0, net assets of $36k.