Hongyun Art Foundation

Analysis

Hongyun Art Foundation is a registered charity in United States, based in Covina, CA. It received its IRS tax-exemption ruling in October 2015, 11 years ago. Its declared purposes cover youth development, which this site groups under children and youth development. 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 December 2023, Hongyun Art Foundation reported income of $79k and spending of $98k, spending 124% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income grew from $19k to $79k (+323%), an average of +323% a year. The sharpest change came in the year to December 2023, when income rose by 323%. Over the whole period it spent 156% of the income it received.

Among 14,332 United States charities whose main cause is children and youth development and that reported income, Hongyun Art Foundation sits at the 35th percentile: it is larger than about 35% of them. Against every charity in United States with reported income it ranks in the 31st percentile, and in the 33rd percentile within CA. Charities of a similar size with the same main cause include Detroit Cares Circle of the National Cares Mentoring Movement ($79k), BTC Area Youth Benefit Corp ($79k) and Camp Quest Inc ($79k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $76k against liabilities of $0, net assets of $76k.