Hugh Lane Foundation

Analysis

Hugh Lane Foundation is a registered charity in United States, based in Pittsburgh, PA. It received its IRS tax-exemption ruling in July 2017, 9 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Hugh Lane Foundation reported income of $2.6m and spending of $2.1m, spending 81% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $762k to $2.6m (+246%), an average of +36% a year. The sharpest change came in the year to June 2021, when income rose by 182%. Over the whole period it spent 75% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Hugh Lane Foundation sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 87th percentile within PA. Charities of a similar size with the same main cause include Sequoyah Fund Inc ($2.6m), Jacksonville Electrical Joint Apprenticeship and TRNG Comm Inc ($2.6m) and New England Womens Support Inc ($2.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 95% and program service revenue 3.1% of the total. Compensation of current officers, directors and key employees was $121k (5.6% of expenses). Other salaries and wages came to $906k. At year end it held assets of $2.7m against liabilities of $510k, net assets of $2.2m. It reported 21 employees.