Honeywell Foundation Inc

Analysis

Honeywell Foundation Inc is a registered charity in United States, based in Wabash, IN. It received its IRS tax-exemption ruling in July 1984, 42 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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 September 2023, Honeywell Foundation Inc reported income of $10.1m and spending of $11.5m, spending 114% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income fell from $18.3m to $10.1m (-45%), an average of -14% a year. The sharpest change came in the year to September 2020, when income dropped by 45%. Over the whole period it spent 67% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Honeywell Foundation Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 95th percentile within IN. Charities of a similar size with the same main cause include Oprah Winfrey Leadership Academy Foundation ($10.1m), The Pittsburgh Promise Foundation ($10.1m) and Catalyst of San Diego & Imperial Counties ($10.1m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 20% and program service revenue 65% of the total. Compensation of current officers, directors and key employees was $733k (6.4% of expenses). Other salaries and wages came to $2.8m. At year end it held assets of $94.5m against liabilities of $2.7m, net assets of $91.8m. It reported 153 employees.