Aircraft Carrier Hornet Foundation

Analysis

Aircraft Carrier Hornet Foundation is a registered charity in United States, based in Alameda, CA. It received its IRS tax-exemption ruling in December 1995, 31 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 2023, Aircraft Carrier Hornet Foundation reported income of $3.8m and spending of $3.7m, spending 98% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.6m to $3.8m (+47%), an average of +10% a year. The sharpest change came in the year to June 2022, when income rose by 361%. Over the whole period it spent 96% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Aircraft Carrier Hornet Foundation sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 91st percentile within CA. Charities of a similar size with the same main cause include Riviera Theatre & Organ Preservation Society Inc ($3.8m), Friends of the Mozartina Musical Arts Conservatory Inc ($3.8m) and Childrens Museum of the Upstate Inc ($3.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 24% and program service revenue 72% of the total. Compensation of current officers, directors and key employees was $233k (6.3% of expenses). At year end it held assets of $3.4m against liabilities of $1.3m, net assets of $2.2m. It reported 92 employees.