Open Hands Foundation

Analysis

Open Hands Foundation is a registered charity in United States, based in Excelsior, MN. It received its IRS tax-exemption ruling in January 2005, 21 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 i) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2022, Open Hands Foundation reported income of $382k and spending of $317k, spending 83% of its income. Across the 4 years on record, from December 2019 to December 2022, income grew from $379k to $382k (+0.8%), an average of +0.3% a year. The sharpest change came in the year to December 2021, when income rose by 38%. Over the whole period it spent 66% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Open Hands Foundation sits at the 69th percentile: it is larger than about 69% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 65th percentile within MN. Charities of a similar size with the same main cause include Patrons of the Prado ($382k), Abny Foundation Inc ($382k) and Mac Sports Foundation ($381k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 100% of the total. At year end it held assets of $529k against liabilities of $52k, net assets of $477k.