Hyde Square Task Force Inc

Analysis

Hyde Square Task Force Inc is a registered charity in United States, based in Jamaica Plain, MA. It received its IRS tax-exemption ruling in October 1991, 35 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Hyde Square Task Force Inc reported income of $2.0m and spending of $2.5m, spending 124% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income fell from $2.1m to $2.0m (-5.5%), an average of -1.9% a year. The sharpest change came in the year to June 2021, when income rose by 82%. Over the whole period it spent 74% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Hyde Square Task Force Inc sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 85th percentile within MA. Charities of a similar size with the same main cause include North Louisiana Economic Partnership Inc ($2.0m), The Lift Garage ($2.0m) and Site Foundation ($2.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 92% and program service revenue 4.4% of the total. Compensation of current officers, directors and key employees was $264k (11% of expenses). Other salaries and wages came to $768k. At year end it held assets of $8.3m against liabilities of $1.2m, net assets of $7.1m. It reported 86 employees.