Hoban Trust Fund Inc

Analysis

Hoban Trust Fund Inc is a registered charity in United States, based in Akron, OH. It received its IRS tax-exemption ruling in March 1977, 49 years ago. 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, Hoban Trust Fund Inc reported income of $869k and spending of $700k, spending 81% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $862k to $869k (+0.7%), an average of +0.2% a year. The sharpest change came in the year to December 2021, when income rose by 62%. Over the whole period it spent 68% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Hoban Trust Fund Inc sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 78th percentile within OH. Charities of a similar size with the same main cause include Ririe-Woodbury Dance Foundation ($868k), Hawkeye Downs Inc ($869k) and Chesapeake College Foundation Inc ($868k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 57% of the total. At year end it held assets of $14.6m against liabilities of $0, net assets of $14.6m.