Hovnanian School Inc

Analysis

Hovnanian School Inc is a registered charity in United States, based in New Milford, NJ. It received its IRS tax-exemption ruling in February 1977, 49 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Hovnanian School Inc reported income of $3.3m and spending of $3.5m, spending 106% of what it took in. Across the 5 years on record, from July 2019 to June 2023, income grew from $2.9m to $3.3m (+12%), an average of +2.9% a year. The sharpest change came in the year to June 2022, when income rose by 170%. Over the whole period it spent 69% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Hovnanian School Inc sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 91st percentile within NJ. Charities of a similar size with the same main cause include Connected the National Center for College and Career ($3.3m), Utah International Charter School ($3.3m) and Texas Community College Education Initiative ($3.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 12% and program service revenue 69% of the total. Compensation of current officers, directors and key employees was $89k (2.6% of expenses). Other salaries and wages came to $1.9m. At year end it held assets of $10.4m against liabilities of $1.8m, net assets of $8.6m. It reported 63 employees.