Claremont Heritage Inc

Analysis

Claremont Heritage Inc is a registered charity in United States, based in Claremont, CA. It received its IRS tax-exemption ruling in September 1982, 44 years ago. 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 December 2023, Claremont Heritage Inc reported income of $326k and spending of $378k, spending 116% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $254k to $326k (+28%), an average of +6.5% a year. The sharpest change came in the year to December 2021, when income rose by 25%. Over the whole period it spent 93% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Claremont Heritage Inc sits at the 61st percentile: it is larger than about 61% of them. Against every charity in United States with reported income it ranks in the 63rd percentile, and in the 65th percentile within CA. Charities of a similar size with the same main cause include Greater Hartford Consortium for Higher Education ($326k), Wellesley Scholarship Foundation Inc ($326k) and Leadership New Hampshire ($326k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 36% and program service revenue 22% of the total. Compensation of current officers, directors and key employees was $41k (11% of expenses). Other salaries and wages came to $127k. At year end it held assets of $217k against liabilities of $1,138, net assets of $216k. It reported 5 employees.