Homer F and Marian G Broome Family Foundation

Analysis

Homer F and Marian G Broome Family Foundation is a registered charity in United States, based in Los Angeles, CA. It received its IRS tax-exemption ruling in April 2011, 15 years ago. Its declared purposes cover education, which this site groups under education and training. 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, Homer F and Marian G Broome Family Foundation reported income of $1.4m and spending of $1.4m, spending 99% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $821k to $1.4m (+72%), an average of +14% a year. The sharpest change came in the year to December 2022, when income rose by 71%. Over the whole period it spent 103% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Homer F and Marian G Broome Family Foundation sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 84th percentile within CA. Charities of a similar size with the same main cause include Society for Scholarly Publishing ($1.4m), Freedom Through Education ($1.4m) and The Schultz Center for Teaching and Leadership Inc ($1.4m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $335k. At year end it held assets of $62k against liabilities of $252k, net assets of -$190k. It reported 3 employees.