Galt Foundation

Analysis

Galt Foundation is a registered charity in United States, based in Tigard, OR. It received its IRS tax-exemption ruling in October 1999, 27 years ago. Its declared purposes cover employment, which this site groups under community and economic development. 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 October 2023, Galt Foundation reported income of $17.2m and spending of $18.0m, spending 105% of what it took in. Across the 5 years on record, from October 2019 to October 2023, income fell from $33.8m to $17.2m (-49%), an average of -16% a year. The sharpest change came in the year to October 2022, when income dropped by 37%. Over the whole period it spent 102% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Galt Foundation sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 98th percentile within OR. Charities of a similar size with the same main cause include Eastern Connecticut Workforce Investment Board Inc ($17.1m), Neighborhood Development Services Inc ($17.2m) and Commission on Economic Opportunity for the Rensselaer County Area Inc ($17.1m).

On its Form 990 for the period ending October 2023, revenue came from program service revenue 98% of the total. Compensation of current officers, directors and key employees was $406k (2.3% of expenses). Other salaries and wages came to $13.4m. At year end it held assets of $12.0m against liabilities of $1.8m, net assets of $10.2m. It reported 1,930 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.