Federal Hill Commerce Association Inc

Analysis

Federal Hill Commerce Association Inc is a registered charity in United States, based in Providence, RI. It received its IRS tax-exemption ruling in March 1999, 27 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Federal Hill Commerce Association Inc reported income of $743k and spending of $759k, spending 102% of its income. Across the 4 years on record, from December 2020 to December 2023, income grew from $534k to $743k (+39%), an average of +12% a year. The sharpest change came in the year to December 2022, when income rose by 84%. Over the whole period it spent 98% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Federal Hill Commerce Association Inc sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 72nd percentile within RI. Charities of a similar size with the same main cause include Insight Enterprises Inc ($743k), Downtown Hampton Development Partnership Inc ($743k) and City Sprouts Inc ($742k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 93% and program service revenue 7.1% of the total. Compensation of current officers, directors and key employees was $175k (23% of expenses). At year end it held assets of $94k against liabilities of $28k, net assets of $66k.