Homer Hoyt Institute

Analysis

Homer Hoyt Institute is a registered charity in United States, based in North Palm Beach, FL. It received its IRS tax-exemption ruling in April 1968, 58 years ago. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending May 2024, Homer Hoyt Institute reported income of $198k and spending of $303k, spending 153% of what it took in. Across the 6 years on record, from May 2019 to May 2024, income fell from $200k to $198k (-1.0%), an average of -0.2% a year. The sharpest change came in the year to May 2020, when income rose by 44%. Over the whole period it spent 127% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Homer Hoyt Institute sits at the 52nd percentile: it is larger than about 52% of them. Against every charity in United States with reported income it ranks in the 54th percentile, and in the 57th percentile within FL. Charities of a similar size with the same main cause include India Association of Minnesota Inc ($198k), Freehold Township Little League Inc ($198k) and Trust U/W Alpine McLean Aka ($198k).

On its Form 990 for the period ending May 2024, revenue came from contributions and grants 26% of the total. Compensation of current officers, directors and key employees was $72k (24% of expenses). Other salaries and wages came to $22k. At year end it held assets of $2.1m against liabilities of $40k, net assets of $2.1m. It reported 4 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.