Hoffberger Fund for Biblical Studies Ltd

Analysis

Hoffberger Fund for Biblical Studies Ltd is a registered charity in United States, based in New City, NY. It received its IRS tax-exemption ruling in February 2012, 14 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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 June 2023, Hoffberger Fund for Biblical Studies Ltd reported income of $3.0m and spending of $3.6m, spending 119% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.6m to $3.0m (+90%), an average of +17% a year. The sharpest change came in the year to June 2021, when income rose by 43%. Over the whole period it spent 104% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Hoffberger Fund for Biblical Studies Ltd sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 86th percentile within NY. Charities of a similar size with the same main cause include Alberto Mottesi Evangelistic Assoc Inc ($3.0m), Trans Church Research ($3.0m) and Youth with a Mission Gleanings for the Hungry ($3.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 32% and program service revenue 69% of the total. Compensation of current officers, directors and key employees was $460k (13% of expenses). Other salaries and wages came to $1.1m. At year end it held assets of $525k against liabilities of $52k, net assets of $473k. It reported 12 employees.