Hispanic Information & Telecommunications Network Inc

Analysis

Hispanic Information & Telecommunications Network Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in July 1982, 44 years ago. 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 December 2023, Hispanic Information & Telecommunications Network Inc reported income of $6.4m and spending of $18.6m, spending 290% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $5.7m to $6.4m (+11%), an average of +2.7% a year. The sharpest change came in the year to December 2021, when income rose by 56%. Over the whole period it spent 303% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Hispanic Information & Telecommunications Network Inc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 91st percentile within NY. Charities of a similar size with the same main cause include Our Family Services Inc ($6.4m), Northwest Arkansas Economic Development District Inc ($6.4m) and Richmond Montessori School Inc ($6.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 6.1% and program service revenue 80% of the total. Compensation of current officers, directors and key employees was $1.0m (5.6% of expenses). Other salaries and wages came to $4.7m. At year end it held assets of $67.2m against liabilities of $4.5m, net assets of $62.7m. It reported 57 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.