Philip Hofer Charitable Trust

Analysis

Philip Hofer Charitable Trust is a registered charity in United States, based in Boston, MA. It received its IRS tax-exemption ruling in September 2021, 5 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 supporting organisation (type iii other) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Philip Hofer Charitable Trust reported income of $219k and spending of $109k, leaving 50% of income unspent that year. Across the 4 years on record, from December 2020 to December 2023, income grew from $198k to $219k (+10%), an average of +3.4% a year. The sharpest change came in the year to December 2021, when income rose by 132%. Over the whole period it spent 82% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Philip Hofer Charitable Trust sits at the 60th percentile: it is larger than about 60% of them. Against every charity in United States with reported income it ranks in the 56th percentile, and in the 59th percentile within MA. Charities of a similar size with the same main cause include Public Health Fund of Ohio ($219k), Daniel Foundation Inc ($219k) and Building Owners and Managers Association of Georgia Foundation ($219k).

At year end it held assets of $4.0m against liabilities of $0, net assets of $4.0m.