Hai Foundation

Analysis

Hai Foundation is a registered charity in United States, based in Detroit, MI. It received its IRS tax-exemption ruling in October 2020, 6 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 December 2023, Hai Foundation reported income of $82k and spending of $148k, spending 181% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income fell from $130k to $82k (-37%), an average of -37% a year. The sharpest change came in the year to December 2023, when income dropped by 37%. Over the whole period it spent 98% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Hai Foundation sits at the 36th percentile: it is larger than about 36% of them. Against every charity in United States with reported income it ranks in the 32nd percentile, and in the 31st percentile within MI. Charities of a similar size with the same main cause include Palm Springs Community Concert Association ($82k), Montana Veterans Memorial Committee Inc ($82k) and Rosenfeld Org Inc ($82k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 97% of the total. At year end it held assets of $105k against liabilities of $0, net assets of $105k.