Harold Grinspoon Foundation

Analysis

Harold Grinspoon Foundation is a registered charity in United States, based in Agawam, MA. It received its IRS tax-exemption ruling in December 1991, 35 years ago. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Harold Grinspoon Foundation reported income of $42.6m and spending of $55.7m, spending 131% of what it took in. Across the 5 years on record, from August 2019 to June 2023, income fell from $140.0m to $42.6m (-70%), an average of -26% a year. The sharpest change came in the year to June 2022, when income rose by 239%. Over the whole period it spent 49% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Harold Grinspoon Foundation sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within MA. Charities of a similar size with the same main cause include Rivers School Corporation ($42.6m), Goodwill Industries of Southern Arizona Inc ($42.8m) and J N Pew Jr Charitable Trust ($42.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 23% and program service revenue 16% of the total. Compensation of current officers, directors and key employees was $2.2m (4.0% of expenses). Other salaries and wages came to $11.9m. It paid $241k in professional fundraising fees. At year end it held assets of $939.5m against liabilities of $15.6m, net assets of $923.9m. It reported 163 employees.