West Hancock Scholarship and Loan Fund Inc

Analysis

West Hancock Scholarship and Loan Fund Inc is a registered charity in United States, based in Britt, IA. It received its IRS tax-exemption ruling in September 1989, 37 years ago. 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 June 2023, West Hancock Scholarship and Loan Fund Inc reported income of $76k and spending of $84k, spending 111% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $71k to $76k (+6.7%), an average of +1.6% a year. The sharpest change came in the year to June 2021, when income rose by 26%. Over the whole period it spent 110% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, West Hancock Scholarship and Loan Fund Inc sits at the 29th percentile: it is larger than about 29% of them. Against every charity in United States with reported income it ranks in the 30th percentile, and in the 28th percentile within IA. Charities of a similar size with the same main cause include Spartans Youth Football ($76k), Pop Warner Little Scholars Inc ($76k) and MC Allen Swim Club Inc ($76k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 17% of the total. At year end it held assets of $1.5m against liabilities of $0, net assets of $1.5m.

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.