Hasc Center Inc

Analysis

Hasc Center Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in October 1994, 32 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Hasc Center Inc reported income of $97.5m and spending of $89.2m, spending 92% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $50.9m to $97.5m (+92%), an average of +18% a year. The sharpest change came in the year to June 2022, when income rose by 46%. Over the whole period it spent 96% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Hasc Center Inc sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within NY. Charities of a similar size with the same main cause include Three Square ($97.5m), Resource Center for Independent Living Inc ($97.8m) and Central California Food Bank ($96.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.1% and program service revenue 92% of the total. Compensation of current officers, directors and key employees was $2.2m (2.4% of expenses). Other salaries and wages came to $48.8m. At year end it held assets of $83.1m against liabilities of $24.6m, net assets of $58.5m. It reported 2,379 employees.