Hood College of Frederick MD

Analysis

Hood College of Frederick MD is a registered charity in United States, based in Frederick, MD. It received its IRS tax-exemption ruling in November 1937, 89 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Hood College of Frederick MD reported income of $86.9m and spending of $87.6m, spending 101% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $70.8m to $86.9m (+23%), an average of +5.3% a year. The sharpest change came in the year to June 2021, when income rose by 17%. Over the whole period it spent 91% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Hood College of Frederick MD sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within MD. Charities of a similar size with the same main cause include Tiger Athletic Foundation ($86.8m), Avid Center ($86.9m) and Daemen University ($86.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 15% and program service revenue 83% of the total. Compensation of current officers, directors and key employees was $1.3m (1.5% of expenses). Other salaries and wages came to $19.5m. At year end it held assets of $248.6m against liabilities of $58.5m, net assets of $190.1m. It reported 1,009 employees.