Hanac Inc

Analysis

Hanac Inc is a registered charity in United States, based in Astoria, NY. It received its IRS tax-exemption ruling in February 1974, 52 years ago. Its declared purposes cover civil rights, social action and advocacy, which this site groups under human rights and equality. 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, Hanac Inc reported income of $18.7m and spending of $18.1m, spending 97% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $15.1m to $18.7m (+24%), an average of +5.5% a year. The sharpest change came in the year to June 2022, when income rose by 46%. Over the whole period it spent 94% of the income it received.

Among 9,611 United States charities whose main cause is human rights and equality and that reported income, Hanac Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 96th percentile within NY. Charities of a similar size with the same main cause include Prokids ($18.6m), Justice and Education Fund Inc ($18.7m) and Transgender Law Center ($18.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 96% and program service revenue 0.8% of the total. Compensation of current officers, directors and key employees was $308k (1.7% of expenses). Other salaries and wages came to $9.3m. At year end it held assets of $29.1m against liabilities of $17.9m, net assets of $11.2m. It reported 424 employees.