Bluehub Loan Fund Inc

Analysis

Bluehub Loan Fund Inc is a registered charity in United States, based in Boston, MA. It received its IRS tax-exemption ruling in May 1987, 39 years ago. 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, Bluehub Loan Fund Inc reported income of $38.0m and spending of $11.5m, leaving 70% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $20.3m to $38.0m (+87%), an average of +17% a year. The sharpest change came in the year to December 2023, when income rose by 72%. Over the whole period it spent 43% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Bluehub Loan Fund Inc sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within MA. Charities of a similar size with the same main cause include Franciscan Health Rensselaer ($37.9m), The Pennington School ($38.0m) and Code for America Labs ($37.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 55% and program service revenue 38% of the total. Compensation of current officers, directors and key employees was $326k (2.8% of expenses). Other salaries and wages came to $3.1m. At year end it held assets of $353.9m against liabilities of $223.2m, net assets of $130.7m. It reported 51 employees.