Hong Bang Inc

Analysis

Hong Bang Inc is a registered charity in United States, based in Fort Worth, TX. It received its IRS tax-exemption ruling in March 2017, 9 years ago. Its declared purposes cover international, foreign affairs and national security, which this site groups under overseas aid and international. 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 2021, Hong Bang Inc reported income of $100k and spending of $127k, spending 127% of what it took in. Across the 2 years on record, from December 2020 to December 2021, income grew from $82k to $100k (+22%), an average of +22% a year. The sharpest change came in the year to December 2021, when income rose by 22%. Over the whole period it spent 85% of the income it received.

Among 10,317 United States charities whose main cause is overseas aid and international and that reported income, Hong Bang Inc sits at the 34th percentile: it is larger than about 34% of them. Against every charity in United States with reported income it ranks in the 37th percentile, and in the 39th percentile within TX. Charities of a similar size with the same main cause include Support Hospitals in Ukraine Foundation ($100k), Healing 2 the Nations International ($100k) and American Friends of Policy Exchange Inc ($100k).

On its Form 990 for the period ending December 2021, revenue came from contributions and grants 100% of the total. At year end it held assets of $52k against liabilities of $0, net assets of $52k.