Hoyt Sherman Place Foundation

Analysis

Hoyt Sherman Place Foundation is a registered charity in United States, based in Des Moines, IA. It received its IRS tax-exemption ruling in September 1995, 31 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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 June 2023, Hoyt Sherman Place Foundation reported income of $4.9m and spending of $5.1m, spending 105% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $4.8m to $4.9m (+0.9%), an average of +0.2% a year. The sharpest change came in the year to June 2022, when income rose by 58%. Over the whole period it spent 77% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Hoyt Sherman Place Foundation sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 92nd percentile within IA. Charities of a similar size with the same main cause include National Center on Sexual Exploitation Inc ($4.9m), Palace Theater Group Inc ($4.9m) and Clyfford Still Museum ($4.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 17% and program service revenue 81% of the total. Other salaries and wages came to $964k. At year end it held assets of $26.2m against liabilities of $4.6m, net assets of $21.6m. It reported 43 employees.