Hartsprings Foundation Inc

Analysis

Hartsprings Foundation Inc is a registered charity in United States, based in W Springfield, MA. It received its IRS tax-exemption ruling in February 1998, 28 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, Hartsprings Foundation Inc reported income of $1.9m and spending of $2.1m, spending 109% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $2.0m to $1.9m (-2.8%), an average of -0.7% a year. The sharpest change came in the year to December 2021, when income rose by 32%. Over the whole period it spent 101% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Hartsprings Foundation Inc sits at the 87th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 84th percentile within MA. Charities of a similar size with the same main cause include The Moonridge Foundation ($1.9m), Mount Baker Scholarship Foundation ($1.9m) and Community Foundation of the Northern Shenandoah Valley ($1.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% of the total. Compensation of current officers, directors and key employees was $80k (3.9% of expenses). Other salaries and wages came to $602k. At year end it held assets of $73k against liabilities of $38k, net assets of $34k. It reported 28 employees.