Hagood Mill Foundation

Analysis

Hagood Mill Foundation is a registered charity in United States, based in Pickens, SC. It received its IRS tax-exemption ruling in October 2018, 8 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 June 2024, Hagood Mill Foundation reported income of $489k and spending of $350k, leaving 28% of income unspent that year. Across the 5 years on record, from June 2020 to June 2024, income grew from $361k to $489k (+35%), an average of +7.8% a year. The sharpest change came in the year to June 2024, when income rose by 36%. Over the whole period it spent 83% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Hagood Mill Foundation sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 74th percentile within SC. Charities of a similar size with the same main cause include Miami Hispanic Ballet Corp ($488k), Capital Fringe Inc ($489k) and Tkiya Music Inc ($488k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 70% and program service revenue 27% of the total. Compensation of current officers, directors and key employees was $62k (18% of expenses). Other salaries and wages came to $42k. At year end it held assets of $370k against liabilities of $254, net assets of $370k. It reported 4 employees.