Hobart Preservation Foundation

Analysis

Hobart Preservation Foundation is a registered charity in United States, based in San Francisco, CA. It received its IRS tax-exemption ruling in December 2010, 16 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Hobart Preservation Foundation reported income of $2.1m and spending of $3.7m, spending 179% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income fell from $3.2m to $2.1m (-34%), an average of -10% a year. The sharpest change came in the year to September 2020, when income rose by 43%. Over the whole period it spent 118% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Hobart Preservation Foundation sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 87th percentile within CA. Charities of a similar size with the same main cause include Neighborhood Playhouse Inc ($2.1m), Hoyt Center for the Arts ($2.1m) and Korean-American Scientists and Engineers Association Inc ($2.1m).

On its Form 990 for the period ending September 2023, revenue came from program service revenue 111% of the total. Compensation of current officers, directors and key employees was $120k (3.2% of expenses). Other salaries and wages came to $326k. At year end it held assets of $23.3m against liabilities of $12.2m, net assets of $11.2m. It reported 5 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.