Hometown Foundation Inc

Analysis

Hometown Foundation Inc is a registered charity in United States, based in Cheshire, CT. It received its IRS tax-exemption ruling in September 2004, 22 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 September 2023, Hometown Foundation Inc reported income of $4.4m and spending of $3.6m, spending 80% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $2.7m to $4.4m (+68%), an average of +14% a year. The sharpest change came in the year to September 2021, when income rose by 40%. Over the whole period it spent 76% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Hometown Foundation Inc sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 90th percentile within CT. Charities of a similar size with the same main cause include Montana Migrant & Seasonal Farmworker Council Inc Ceta Projec ($4.4m), Disease Management Network Inc ($4.5m) and Coregiving Co ($4.4m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $5.5m against liabilities of $919k, net assets of $4.6m.