Red Hook Initiative

Analysis

Red Hook Initiative is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in June 2006, 20 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 June 2023, Red Hook Initiative reported income of $3.4m and spending of $5.1m, spending 150% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $4.4m to $3.4m (-23%), an average of -6.3% a year. The sharpest change came in the year to June 2022, when income rose by 111%. Over the whole period it spent 92% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Red Hook Initiative sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 87th percentile within NY. Charities of a similar size with the same main cause include Empowerment Plan ($3.4m), Enhanced Living Inc ($3.4m) and United Community Centers Inc ($3.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 99% and program service revenue 0.7% of the total. Compensation of current officers, directors and key employees was $487k (9.5% of expenses). Other salaries and wages came to $2.7m. At year end it held assets of $4.7m against liabilities of $882k, net assets of $3.8m. It reported 202 employees.