Heritage Foundation

Analysis

Heritage Foundation is a registered charity in United States, based in Karlstad, MN. It received its IRS tax-exemption ruling in November 1976, 50 years ago. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Heritage Foundation reported income of $253k and spending of $215k, spending 85% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $193k to $253k (+31%), an average of +7.1% a year. The sharpest change came in the year to December 2021, when income rose by 25%. Over the whole period it spent 91% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Heritage Foundation sits at the 57th percentile: it is larger than about 57% of them. Against every charity in United States with reported income it ranks in the 59th percentile, and in the 57th percentile within MN. Charities of a similar size with the same main cause include Habitat for Humanity International Inc ($253k), Kissimmee Main Street Program Inc ($253k) and Water for Africa Through Everyday Responsiveness Inc ($253k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 63% and program service revenue 36% of the total. Compensation of current officers, directors and key employees was $14k (6.6% of expenses). Other salaries and wages came to $124k. At year end it held assets of $179k against liabilities of $0, net assets of $179k. It reported 16 employees.