Hanac Spiti Management Company Inc

Analysis

Hanac Spiti Management Company Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in December 2001, 25 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Hanac Spiti Management Company Inc reported income of $2.1m and spending of $2.1m, spending 99% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.0m to $2.1m (+5.8%), an average of +1.4% a year. Over the whole period it spent 100% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Hanac Spiti Management Company Inc sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 83rd percentile within NY. Charities of a similar size with the same main cause include Huntington Housing Inc ($2.1m), My Fathers House a Community Shelter Inc ($2.1m) and Shelter America Group ($2.1m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. Compensation of current officers, directors and key employees was $53k (2.5% of expenses). Other salaries and wages came to $1.5m. At year end it held assets of $1.7m against liabilities of $1.6m, net assets of $70k. It reported 69 employees.