Friends of Hec Inc

Analysis

Friends of Hec Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in March 2007, 19 years ago. Its declared purposes cover education, which this site groups under education and training. 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 December 2023, Friends of Hec Inc reported income of $1.1m and spending of $1.1m, spending 99% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $757k to $1.1m (+42%), an average of +9.2% a year. The sharpest change came in the year to December 2022, when income rose by 390%. Over the whole period it spent 101% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Friends of Hec Inc sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 76th percentile within NY. Charities of a similar size with the same main cause include Centro San Francisco Inc ($1.1m), Fabnewport ($1.1m) and Home Works - THVP ($1.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $257k (24% of expenses). At year end it held assets of $88k against liabilities of $18k, net assets of $70k. It reported 1 employees.