Hebrew Free Loan Society Inc

Analysis

Hebrew Free Loan Society Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in December 1926, 100 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 June 2023, Hebrew Free Loan Society Inc reported income of $7.3m and spending of $3.8m, leaving 48% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $3.5m to $7.3m (+111%), an average of +20% a year. The sharpest change came in the year to June 2020, when income rose by 115%. Over the whole period it spent 47% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Hebrew Free Loan Society 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 94th percentile, and in the 92nd percentile within NY. Charities of a similar size with the same main cause include Youth Emergency Services Inc ($7.3m), Leap ($7.3m) and A Kid Again Inc ($7.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 86% and program service revenue 4.7% of the total. Compensation of current officers, directors and key employees was $608k (16% of expenses). Other salaries and wages came to $1.3m. At year end it held assets of $49.2m against liabilities of $11.8m, net assets of $37.5m. It reported 21 employees.