Fishburne-Hudgins Educational Foundation

Analysis

Fishburne-Hudgins Educational Foundation is a registered charity in United States, based in Waynesboro, VA. It received its IRS tax-exemption ruling in December 1953, 73 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 May 2023, Fishburne-Hudgins Educational Foundation reported income of $3.5m and spending of $5.5m, spending 154% of what it took in. Across the 5 years on record, from May 2019 to May 2023, income fell from $7.4m to $3.5m (-52%), an average of -17% a year. The sharpest change came in the year to May 2020, when income dropped by 44%. Over the whole period it spent 107% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Fishburne-Hudgins Educational Foundation sits at the 87th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 91st percentile within VA. Charities of a similar size with the same main cause include Access Charter School ($3.5m), Cannon River STEM School ($3.5m) and Downtown College Prep Foundation ($3.5m).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 37% and program service revenue 58% of the total. Other salaries and wages came to $2.3m. At year end it held assets of $19.0m against liabilities of $1.3m, net assets of $17.7m. It reported 87 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.