Patrick Henry Memorial Foundation

Analysis

Patrick Henry Memorial Foundation is a registered charity in United States, based in Brookneal, VA. It received its IRS tax-exemption ruling in July 1979, 47 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 2024, Patrick Henry Memorial Foundation reported income of $2.9m and spending of $3.3m, spending 114% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income grew from $2.5m to $2.9m (+16%), an average of +3.8% a year. The sharpest change came in the year to June 2024, when income rose by 188%. Over the whole period it spent 90% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Patrick Henry Memorial Foundation sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 89th percentile within VA. Charities of a similar size with the same main cause include Global Investigative Journalism Network ($2.9m), The Elizabeth Foundation for the Arts ($2.9m) and Pensacola Retirement Village Inc ($2.9m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 88% and program service revenue 0.8% of the total. Other salaries and wages came to $534k. At year end it held assets of $17.4m against liabilities of $52k, net assets of $17.3m. It reported 26 employees.