Hamaspik of Kings County Inc

Analysis

Hamaspik of Kings County Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in January 1998, 28 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, Hamaspik of Kings County Inc reported income of $184.9m and spending of $165.5m, spending 90% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $25.3m to $184.9m (+630%), an average of +64% a year. The sharpest change came in the year to June 2022, when income rose by 102%. Over the whole period it spent 87% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Hamaspik of Kings County Inc sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 99th percentile within NY. Charities of a similar size with the same main cause include Bowery Residents Committee Inc ($182.4m), Feeding America Tampa Bay Inc ($185.4m) and Kinvara Inc ($179.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.0% and program service revenue 99% of the total. Compensation of current officers, directors and key employees was $482k (0.3% of expenses). Other salaries and wages came to $70.3m. At year end it held assets of $166.7m against liabilities of $92.7m, net assets of $73.9m. It reported 3,473 employees.