Red Hat Day Care Center Inc

Analysis

Red Hat Day Care Center Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in October 1981, 45 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 August 2024, Red Hat Day Care Center Inc reported income of $1.5m and spending of $1.4m, spending 91% of its income. Across the 5 years on record, from August 2020 to August 2024, income grew from $616k to $1.5m (+149%), an average of +26% a year. The sharpest change came in the year to August 2022, when income rose by 122%. Over the whole period it spent 97% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Red Hat Day Care Center Inc sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 80th percentile within NY. Charities of a similar size with the same main cause include Cache Education Foundation ($1.5m), Interior AIDS Association ($1.5m) and Udac Inc ($1.5m).

On its Form 990 for the period ending August 2024, revenue came from contributions and grants 96% and program service revenue 4.1% of the total. Compensation of current officers, directors and key employees was $199k (14% of expenses). Other salaries and wages came to $719k. At year end it held assets of $510k against liabilities of $280k, net assets of $230k. It reported 19 employees.