Hibbing College Foundation

Analysis

Hibbing College Foundation is a registered charity in United States, based in Hibbing, MN. It received its IRS tax-exemption ruling in November 1965, 61 years ago. The IRS classifies it as a organisation supporting a government-owned college or university under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Hibbing College Foundation reported income of $131k and spending of $137k, spending 104% of its income. Across the 6 years on record, from June 2019 to June 2024, income fell from $149k to $131k (-12%), an average of -2.5% a year. The sharpest change came in the year to June 2021, when income rose by 189%. Over the whole period it spent 88% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Hibbing College Foundation sits at the 43rd percentile: it is larger than about 43% of them. Against every charity in United States with reported income it ranks in the 44th percentile, and in the 41st percentile within MN. Charities of a similar size with the same main cause include French Creek Lutheran Church Foundation Inc ($131k), Cherokee County Sheriffs Foundation Inc ($131k) and PTA Texas Congress ($131k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 41% of the total. At year end it held assets of $1.8m against liabilities of $0, net assets of $1.8m.

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.