Hoover Presidential Foundation

Analysis

Hoover Presidential Foundation is a registered charity in United States, based in West Branch, IA. It received its IRS tax-exemption ruling in August 1957, 69 years ago. 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 September 2023, Hoover Presidential Foundation reported income of $3.4m and spending of $2.0m, leaving 41% of income unspent that year. Across the 5 years on record, from September 2019 to September 2023, income grew from $1.0m to $3.4m (+232%), an average of +35% a year. The sharpest change came in the year to September 2021, when income rose by 425%. Over the whole period it spent 54% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Hoover Presidential Foundation sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 91st percentile within IA. Charities of a similar size with the same main cause include Coshocton County Head Start Inc ($3.4m), Colquitt Regional Health Inc ($3.4m) and Filipinas Americas Science and Art Foundation ($3.4m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 82% and program service revenue 2.2% of the total. Other salaries and wages came to $688k. At year end it held assets of $17.4m against liabilities of $207k, net assets of $17.2m. It reported 9 employees.