Bluehub Capital Inc

Analysis

Bluehub Capital Inc is a registered charity in United States, based in Boston, MA. It received its IRS tax-exemption ruling in June 1996, 30 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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, Bluehub Capital Inc reported income of $754k and spending of $3.5m, spending 459% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $3.3m to $754k (-77%), an average of -31% a year. The sharpest change came in the year to December 2023, when income dropped by 75%. Over the whole period it spent 107% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Bluehub Capital Inc sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 76th percentile within MA. Charities of a similar size with the same main cause include Coastal Affordable Housing ($753k), Safe Haven Farms Inc ($754k) and 1114 Morris Avenue Housing Development Fund Corp ($753k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.1% and program service revenue 59% of the total. Compensation of current officers, directors and key employees was $316k (9.1% of expenses). Other salaries and wages came to $1,486. At year end it held assets of $12.7m against liabilities of $4.2m, net assets of $8.5m. It reported 51 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.