Marine Corps Heritage Foundation

Analysis

Marine Corps Heritage Foundation is a registered charity in United States, based in Triangle, VA. It received its IRS tax-exemption ruling in April 2008, 18 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 2023, Marine Corps Heritage Foundation reported income of $9.7m and spending of $14.3m, spending 148% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $11.7m to $9.7m (-18%), an average of -4.7% a year. The sharpest change came in the year to December 2021, when income rose by 31%. Over the whole period it spent 123% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Marine Corps Heritage Foundation sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 95th percentile within VA. Charities of a similar size with the same main cause include Young Mens Christian Association Blue Ridge Assembly ($9.7m), SF New Deal ($9.7m) and Family & Children Services Inc ($9.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 82% and program service revenue 10% of the total. Compensation of current officers, directors and key employees was $490k (3.4% of expenses). Other salaries and wages came to $1.7m. It paid $507k in professional fundraising fees. At year end it held assets of $114.4m against liabilities of $2.8m, net assets of $111.6m. It reported 52 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.