Hudson Community Enterprises Inc

Analysis

Hudson Community Enterprises Inc is a registered charity in United States, based in Jersey City, NJ. It received its IRS tax-exemption ruling in March 1964, 62 years ago. Its declared purposes cover employment, 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 June 2024, Hudson Community Enterprises Inc reported income of $21.9m and spending of $22.6m, spending 103% of its income. Across the 6 years on record, from June 2019 to June 2024, income grew from $16.8m to $21.9m (+30%), an average of +5.4% a year. The sharpest change came in the year to June 2023, when income rose by 22%. Over the whole period it spent 96% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Hudson Community Enterprises Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 98th percentile within NJ. Charities of a similar size with the same main cause include Gesher Human Services ($21.8m), Milwaukee Development Corporation ($21.9m) and Columbus Downtown Development Corporation ($21.8m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 19% and program service revenue 81% of the total. Compensation of current officers, directors and key employees was $431k (1.9% of expenses). Other salaries and wages came to $15.2m. At year end it held assets of $16.7m against liabilities of $5.3m, net assets of $11.4m. It reported 791 employees.