Hyolmo Society of America Inc

Analysis

Hyolmo Society of America Inc is a registered charity in United States, based in Elmhurst, NY. It received its IRS tax-exemption ruling in July 2015, 11 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 December 2023, Hyolmo Society of America Inc reported income of $53k and spending of $56k, spending 106% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $284k to $53k (-81%), an average of -34% a year. The sharpest change came in the year to December 2021, when income rose by 180%. Over the whole period it spent 41% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Hyolmo Society of America Inc sits at the 21st percentile: it is larger than about 21% of them. Against every charity in United States with reported income it ranks in the 21st percentile, and in the 23rd percentile within NY. Charities of a similar size with the same main cause include Tate Community Association Inc ($53k), Opportunities Incorporated ($53k) and Pearls of Vision Foundation Inc ($53k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $459k against liabilities of $0, net assets of $459k.