Hargrove Foundation

Analysis

Hargrove Foundation is a registered charity in United States, based in Mobile, AL. It received its IRS tax-exemption ruling in January 2012, 14 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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 December 2023, Hargrove Foundation reported income of $747k and spending of $441k, leaving 41% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $591k to $747k (+27%), an average of +6.1% a year. The sharpest change came in the year to December 2023, when income rose by 18%. Over the whole period it spent 60% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Hargrove Foundation sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 79th percentile within AL. Charities of a similar size with the same main cause include We Want More Inc ($747k), Pine Haven Boys Center Foundation ($748k) and Horizons Hampton Roads Inc ($746k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 63% of the total. At year end it held assets of $2.0m against liabilities of $0, net assets of $2.0m.