Hart Square Foundation Inc

Analysis

Hart Square Foundation Inc is a registered charity in United States, based in Vale, NC. It received its IRS tax-exemption ruling in October 2002, 24 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Hart Square Foundation Inc reported income of $1.0m and spending of $839k, spending 83% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.4m to $1.0m (-27%), an average of -7.5% a year. The sharpest change came in the year to December 2022, when income rose by 334%. Over the whole period it spent 47% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Hart Square Foundation Inc sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 80th percentile within NC. Charities of a similar size with the same main cause include Gesa Community Foundation ($1.0m), Law Rocks Inc ($1.0m) and Orli Foundation ($1.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 59% and program service revenue 36% of the total. Other salaries and wages came to $274k. At year end it held assets of $6.4m against liabilities of $960k, net assets of $5.4m. It reported 13 employees.