The Foundation at Hearst Castle

Analysis

The Foundation at Hearst Castle is a registered charity in United States, based in San Simeon, CA. It received its IRS tax-exemption ruling in January 1986, 40 years ago. 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, The Foundation at Hearst Castle reported income of $722k and spending of $609k, spending 84% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $607k to $722k (+19%), an average of +4.4% a year. The sharpest change came in the year to December 2021, when income rose by 256%. Over the whole period it spent 94% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, The Foundation at Hearst Castle sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 77th percentile within CA. Charities of a similar size with the same main cause include Association for the Elderly of the Virgin Islands Inc ($722k), Friends of Salt Springs Park Supporting Group ($723k) and St Vincents Apartments Housing Development Company Inc ($722k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 55% and program service revenue 45% of the total. Compensation of current officers, directors and key employees was $198k (33% of expenses). Other salaries and wages came to $106k. At year end it held assets of $663k against liabilities of $27k, net assets of $636k. It reported 3 employees.