MHC Academic Foundation

Analysis

MHC Academic Foundation is a registered charity in United States, based in Martinsville, VA. It received its IRS tax-exemption ruling in June 2007, 19 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a organisation supporting a government-owned college or university under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, MHC Academic Foundation reported income of $763k and spending of $284k, leaving 63% of income unspent that year. Across the 5 years on record, from June 2020 to June 2024, income grew from $668k to $763k (+14%), an average of +3.4% a year. The sharpest change came in the year to June 2021, when income dropped by 860%. Over the whole period it spent -194% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, MHC Academic Foundation sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 76th percentile within VA. Charities of a similar size with the same main cause include Covington Partners Inc ($763k), Mississippi Center for Public Policy ($763k) and Communities Acting to Heighten Awareness and Learning Inc ($763k).

Compensation of current officers, directors and key employees was $76k (27% of expenses). Other salaries and wages came to $1,503. At year end it held assets of $14.5m against liabilities of $7,154, net assets of $14.5m. It reported 2 employees.