Texas Business Hall of Fame Foundation

Analysis

Texas Business Hall of Fame Foundation is a registered charity in United States, based in Houston, TX. It received its IRS tax-exemption ruling in April 1983, 43 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 December 2023, Texas Business Hall of Fame Foundation reported income of $1.8m and spending of $2.0m, spending 109% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $2.0m to $1.8m (-8.9%), an average of -2.3% a year. The sharpest change came in the year to December 2021, when income rose by 102%. Over the whole period it spent 117% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Texas Business Hall of Fame Foundation sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 88th percentile within TX. Charities of a similar size with the same main cause include Nuvisions Center ($1.8m), Icw Vocational Services Inc ($1.8m) and Junior League of Dallas Inc ($1.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 102% of the total. Compensation of current officers, directors and key employees was $255k (13% of expenses). Other salaries and wages came to $275k. At year end it held assets of $6.8m against liabilities of $19k, net assets of $6.8m. It reported 4 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.