The Hobby Center Foundation

Analysis

The Hobby Center Foundation is a registered charity in United States, based in Houston, TX. It received its IRS tax-exemption ruling in August 1994, 32 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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 August 2023, The Hobby Center Foundation reported income of $39.8m and spending of $38.0m, spending 95% of its income. Across the 5 years on record, from August 2019 to August 2023, income grew from $11.4m to $39.8m (+250%), an average of +37% a year. The sharpest change came in the year to August 2022, when income rose by 326%. Over the whole period it spent 97% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, The Hobby Center Foundation sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 99th percentile within TX. Charities of a similar size with the same main cause include Uss Midway Museum ($39.8m), Fractured Atlas Inc ($39.9m) and The Center for Employment Security Education and Research Inc ($39.8m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 4.6% and program service revenue 94% of the total. Compensation of current officers, directors and key employees was $964k (2.5% of expenses). Other salaries and wages came to $3.1m. At year end it held assets of $81.6m against liabilities of $9.3m, net assets of $72.3m. It reported 100 employees.