The Hudson Valley Center for Innovation Inc

Analysis

The Hudson Valley Center for Innovation Inc is a registered charity in United States, based in White Plains, NY. It received its IRS tax-exemption ruling in April 2022, 4 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, The Hudson Valley Center for Innovation Inc reported income of $54k and spending of $190k, spending 352% of what it took in. Across the 6 years on record, from December 2018 to December 2023, income fell from $118k to $54k (-54%), an average of -15% a year. The sharpest change came in the year to December 2020, when income rose by 200%. Over the whole period it spent 136% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, The Hudson Valley Center for Innovation Inc sits at the 22nd percentile: it is larger than about 22% of them. Against every charity in United States with reported income it ranks in the 21st percentile, and in the 23rd percentile within NY. Charities of a similar size with the same main cause include Genesee Valley Quilt Club Inc ($54k), North Loop Neighborhood Association ($54k) and Gainesville Industrial and Community Development Authority ($54k).

On its Form 990-EZ for the period ending December 2023, revenue came from program service revenue 100% of the total. At year end it held assets of $28k against liabilities of $209k, net assets of -$180k.

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.