Patrick Henry Community College Educational Foundation Inc

Analysis

Patrick Henry Community College Educational Foundation Inc is a registered charity in United States, based in Martinsville, VA. It received its IRS tax-exemption ruling in August 1982, 44 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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, Patrick Henry Community College Educational Foundation Inc reported income of $3.2m and spending of $3.1m, spending 97% of its income. Across the 3 years on record, from June 2020 to June 2023, income fell from $3.8m to $3.2m (-16%), an average of -8.5% a year. The sharpest change came in the year to June 2023, when income dropped by 30%. Over the whole period it spent 93% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Patrick Henry Community College Educational Foundation Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 90th percentile within VA. Charities of a similar size with the same main cause include Ole Health Foundation ($3.2m), Whitley County Community Foundation Inc ($3.2m) and Strategic Global Assistance Inc ($3.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 56% of the total. Other salaries and wages came to $344k. At year end it held assets of $20.1m against liabilities of $200k, net assets of $19.9m.