Community Foundation for Monterey County

Analysis

Community Foundation for Monterey County is a registered charity in United States, based in Monterey, CA. It received its IRS tax-exemption ruling in March 1966, 60 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, Community Foundation for Monterey County reported income of $85.2m and spending of $44.8m, leaving 47% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $36.2m to $85.2m (+135%), an average of +24% a year. The sharpest change came in the year to December 2023, when income rose by 74%. Over the whole period it spent 62% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Community Foundation for Monterey County sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within CA. Charities of a similar size with the same main cause include Loma Linda - Inland Empire Consortium for Healthcare Educatio ($85.0m), Bright Funds Foundation ($85.7m) and Henry J Kaiser Family Foundation ($84.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 68% and program service revenue 0.6% of the total. Compensation of current officers, directors and key employees was $838k (1.9% of expenses). Other salaries and wages came to $1.8m. At year end it held assets of $380.1m against liabilities of $82.1m, net assets of $298.0m. It reported 30 employees.