Hfc-Jlc Memorial Scholarship Fund Incorporated

Analysis

Hfc-Jlc Memorial Scholarship Fund Incorporated is a registered charity in United States, based in Newport, PA. It received its IRS tax-exemption ruling in March 1994, 32 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2021, Hfc-Jlc Memorial Scholarship Fund Incorporated reported income of $51k and spending of $36k, leaving 29% of income unspent that year. Across the 3 years on record, from December 2019 to December 2021, income grew from $39k to $51k (+31%), an average of +15% a year. The sharpest change came in the year to December 2021, when income rose by 35%. Over the whole period it spent 79% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Hfc-Jlc Memorial Scholarship Fund Incorporated sits at the 22nd percentile: it is larger than about 22% of them. Against every charity in United States with reported income it ranks in the 20th percentile, and in the 18th percentile within PA. Charities of a similar size with the same main cause include Officer Brian Shaw Memorial Scholarship Fund ($51k), Space City Charities ($51k) and Heritage Elementary School PTO ($51k).

On its Form 990 for the period ending December 2021, revenue came from contributions and grants 66% of the total. At year end it held assets of $967k against liabilities of $0, net assets of $967k.