Hollis Adams Foundation Inc

Analysis

Hollis Adams Foundation Inc is a registered charity in United States, based in Indianapolis, IN. It received its IRS tax-exemption ruling in November 1970, 56 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending March 2024, Hollis Adams Foundation Inc reported income of $317k and spending of $344k, spending 109% of what it took in. Across the 5 years on record, from March 2020 to March 2024, income fell from $391k to $317k (-19%), an average of -5.1% a year. The sharpest change came in the year to March 2021, when income dropped by 21%. Over the whole period it spent 101% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Hollis Adams Foundation Inc sits at the 61st percentile: it is larger than about 61% of them. Against every charity in United States with reported income it ranks in the 63rd percentile, and in the 62nd percentile within IN. Charities of a similar size with the same main cause include Marstons Mills Public Library Inc ($317k), Maclay School Foundation Inc ($317k) and Sonshine Soup Kitchen ($317k).

On its Form 990 for the period ending March 2024, revenue came from contributions and grants 29% and program service revenue 30% of the total. Compensation of current officers, directors and key employees was $64k (19% of expenses). Other salaries and wages came to $130k. At year end it held assets of $248k against liabilities of $139k, net assets of $109k. It reported 5 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.