Hester Street Collaborative Inc

Analysis

Hester Street Collaborative Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in November 2004, 22 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 (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 2023, Hester Street Collaborative Inc reported income of $5.7m and spending of $4.4m, leaving 24% of income unspent that year. Across the 6 years on record, from December 2018 to December 2023, income grew from $728k to $5.7m (+689%), an average of +51% a year. The sharpest change came in the year to December 2019, when income rose by 401%. Over the whole period it spent 89% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Hester Street Collaborative 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 93rd percentile, and in the 90th percentile within NY. Charities of a similar size with the same main cause include Columbia Empowerment Zone Inc ($5.7m), Youth Employment Partnership Inc ($5.8m) and Sacramento Area Electrical Workers Joint Apprenticeship & Training TR ($5.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 49% and program service revenue 51% of the total. Compensation of current officers, directors and key employees was $352k (8.0% of expenses). Other salaries and wages came to $2.2m. At year end it held assets of $4.2m against liabilities of $1.1m, net assets of $3.2m. It reported 34 employees.