The Hap Foundation Inc

Analysis

The Hap Foundation Inc is a registered charity in United States, based in Oakbrook Ter, IL. It received its IRS tax-exemption ruling in August 1997, 29 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 December 2023, The Hap Foundation Inc reported income of $1.8m and spending of $3.4m, spending 189% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $6.9m to $1.8m (-74%), an average of -29% a year. The sharpest change came in the year to December 2023, when income rose by 175%. Over the whole period it spent 178% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, The Hap Foundation Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 84th percentile within IL. Charities of a similar size with the same main cause include Kansas Methodist Foundation Inc ($1.8m), Back to Basic Outreach Ministries ($1.8m) and Dhammakaya International Meditation Center ($1.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 88% of the total. Compensation of current officers, directors and key employees was $567k (17% of expenses). Other salaries and wages came to $1.4m. At year end it held assets of $5.4m against liabilities of $329k, net assets of $5.1m. It reported 26 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.