Heritage Foundation

Analysis

Heritage Foundation is a registered charity in United States, based in Washington, DC. It received its IRS tax-exemption ruling in November 1973, 53 years ago. Its declared purposes cover public and societal benefit, which this site groups under other charitable 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 December 2022, Heritage Foundation reported income of $106.3m and spending of $93.7m, spending 88% of its income. Across the 4 years on record, from December 2019 to December 2022, income fell from $122.9m to $106.3m (-13%), an average of -4.7% a year. Over the whole period it spent 75% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Heritage Foundation sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 98th percentile within DC. Charities of a similar size with the same main cause include St Louis Area Food Bank Inc ($106.0m), St Marys Hospital of Superior ($106.4m) and Foodbank Council of Michigan Inc ($105.5m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 89% and program service revenue 0.0% of the total. Compensation of current officers, directors and key employees was $5.9m (6.3% of expenses). Other salaries and wages came to $29.8m. It paid $2.4m in professional fundraising fees. At year end it held assets of $387.7m against liabilities of $55.7m, net assets of $332.0m. It reported 499 employees.