Institute for the Puerto Rican Hispanic Elderly Inc

Analysis

Institute for the Puerto Rican Hispanic Elderly Inc is a registered charity in United States, based in Bronx, NY. It received its IRS tax-exemption ruling in June 1980, 46 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, Institute for the Puerto Rican Hispanic Elderly Inc reported income of $5.5m and spending of $6.3m, spending 114% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $5.0m to $5.5m (+9.5%), an average of +2.3% a year. The sharpest change came in the year to June 2022, when income rose by 66%. Over the whole period it spent 109% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Institute for the Puerto Rican Hispanic Elderly Inc sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 90th percentile within NY. Charities of a similar size with the same main cause include Parent Infant Center ($5.5m), Waste Not Inc ($5.5m) and Pa Connecting Communities ($5.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 95% and program service revenue 4.9% of the total. Other salaries and wages came to $2.6m. At year end it held assets of $2.8m against liabilities of $5.3m, net assets of -$2.6m. It reported 69 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.