Tully Hill Corporation

Analysis

Tully Hill Corporation is a registered charity in United States, based in Tully, NY. It received its IRS tax-exemption ruling in May 1994, 32 years ago. 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, Tully Hill Corporation reported income of $4.3m and spending of $5.0m, spending 118% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $5.6m to $4.3m (-23%), an average of -6.4% a year. The sharpest change came in the year to December 2023, when income rose by 611%. Over the whole period it spent 119% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Tully Hill Corporation 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 91st percentile, and in the 89th percentile within NY. Charities of a similar size with the same main cause include Association of School Business Officials International ($4.3m), Veterans North East Outreach Center Inc ($4.3m) and Tidewater Community College Educational Foundation Inc ($4.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 14% and program service revenue 85% of the total. Compensation of current officers, directors and key employees was $218k (4.3% of expenses). Other salaries and wages came to $2.5m. At year end it held assets of $3.3m against liabilities of $1.2m, net assets of $2.2m. It reported 84 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.