Human Resource Development Foundation Inc

Analysis

Human Resource Development Foundation Inc is a registered charity in United States, based in Morgantown, WV. It received its IRS tax-exemption ruling in June 1970, 56 years ago. Its declared purposes cover employment, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Human Resource Development Foundation Inc reported income of $3.6m and spending of $3.8m, spending 107% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $4.0m to $3.6m (-11%), an average of -2.8% a year. The sharpest change came in the year to June 2023, when income dropped by 24%. Over the whole period it spent 102% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Human Resource Development 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 90th percentile, and in the 90th percentile within WV. Charities of a similar size with the same main cause include Bastrop Economic Development Corporation ($3.6m), Jane Addams Resource Corporation ($3.6m) and Pie Ranch ($3.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 91% and program service revenue 8.5% of the total. Compensation of current officers, directors and key employees was $110k (2.9% of expenses). Other salaries and wages came to $1.9m. At year end it held assets of $791k against liabilities of $1.0m, net assets of -$256k. It reported 360 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.