Otha E Herring Scholarship Fund I

Analysis

Otha E Herring Scholarship Fund I is a registered charity in United States, based in Raleigh, NC. It received its IRS tax-exemption ruling in October 2003, 23 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Otha E Herring Scholarship Fund I reported income of $138k and spending of $202k, spending 146% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income fell from $225k to $138k (-39%), an average of -12% a year. The sharpest change came in the year to June 2023, when income rose by 376%. Over the whole period it spent 71% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Otha E Herring Scholarship Fund I sits at the 47th percentile: it is larger than about 47% of them. Against every charity in United States with reported income it ranks in the 45th percentile, and in the 43rd percentile within NC. Charities of a similar size with the same main cause include North Montco Educational Foundation ($138k), Gahanna Lincoln Instrumental Music Boosters ($138k) and Albany Music Fund ($138k).

Compensation of current officers, directors and key employees was $30k (15% of expenses). At year end it held assets of $3.5m against liabilities of $0, net assets of $3.5m.