The Rick Herrema Foundation Inc

Analysis

The Rick Herrema Foundation Inc is a registered charity in United States, based in Fayetteville, NC. It received its IRS tax-exemption ruling in December 2014, 12 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. 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 2022, The Rick Herrema Foundation Inc reported income of $603k and spending of $738k, spending 122% of what it took in. Across the 5 years on record, from December 2018 to December 2022, income fell from $1.1m to $603k (-44%), an average of -14% a year. The sharpest change came in the year to December 2021, when income rose by 64%. Over the whole period it spent 75% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, The Rick Herrema Foundation Inc sits at the 58th percentile: it is larger than about 58% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 73rd percentile within NC. Charities of a similar size with the same main cause include Appalachian Life Quality Initiative ($603k), Mymichigan Medical Center Tawas Foundation ($603k) and Lake Tanganyika Floating Health Clinic ($603k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 53% and program service revenue 47% of the total. Other salaries and wages came to $319k. At year end it held assets of $2.1m against liabilities of $14k, net assets of $2.0m. It reported 19 employees.