Hippodrome Foundation Inc

Analysis

Hippodrome Foundation Inc is a registered charity in United States, based in Baltimore, MD. It received its IRS tax-exemption ruling in March 1976, 50 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, Hippodrome Foundation Inc reported income of $12.3m and spending of $2.6m, leaving 79% of income unspent that year. Across the 4 years on record, from June 2020 to June 2023, income grew from $2.3m to $12.3m (+438%), an average of +75% a year. The sharpest change came in the year to June 2022, when income rose by 324%. Over the whole period it spent 34% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Hippodrome Foundation Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 95th percentile within MD. Charities of a similar size with the same main cause include Friends of Montana PBS Inc ($12.3m), Grant Park Orchestral Association ($12.3m) and Virginia Health Information ($12.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 84% and program service revenue 16% of the total. Compensation of current officers, directors and key employees was $157k (6.1% of expenses). Other salaries and wages came to $310k. At year end it held assets of $23.8m against liabilities of $1.3m, net assets of $22.5m. It reported 45 employees.