Honor Foundation

Analysis

Honor Foundation is a registered charity in United States, based in San Diego, CA. It received its IRS tax-exemption ruling in June 2014, 12 years ago. Its declared purposes cover employment, which this site groups under community and economic development. 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 December 2023, Honor Foundation reported income of $7.7m and spending of $6.0m, leaving 21% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.2m to $7.7m (+241%), an average of +36% a year. The sharpest change came in the year to December 2023, when income rose by 52%. Over the whole period it spent 85% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Honor Foundation sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 94th percentile within CA. Charities of a similar size with the same main cause include KML Carpenters Apprenticeship and Training Fund ($7.6m), Calidad Industries Inc ($7.7m) and Partners in Progress Inc ($7.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 101% of the total. Compensation of current officers, directors and key employees was $275k (4.6% of expenses). Other salaries and wages came to $2.6m. At year end it held assets of $5.7m against liabilities of $155k, net assets of $5.5m. It reported 37 employees.