Hospital for Special Care Foundation Inc

Analysis

Hospital for Special Care Foundation Inc is a registered charity in United States, based in New Britain, CT. It received its IRS tax-exemption ruling in April 1999, 27 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 under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending March 2024, Hospital for Special Care Foundation Inc reported income of $1.7m and spending of $1.0m, leaving 41% of income unspent that year. Across the 5 years on record, from March 2020 to March 2024, income fell from $3.4m to $1.7m (-50%), an average of -16% a year. The sharpest change came in the year to March 2024, when income rose by 100%. 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, Hospital for Special Care Foundation Inc sits at the 86th 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 83rd percentile within CT. Charities of a similar size with the same main cause include S a Yes ($1.7m), Remington Court Foundation ($1.7m) and La-Tech Org ($1.7m).

On its Form 990 for the period ending March 2024, revenue came from contributions and grants 45% of the total. Compensation of current officers, directors and key employees was $17k (1.7% of expenses). Other salaries and wages came to $313k. At year end it held assets of $17.2m against liabilities of $560k, net assets of $16.6m.