Hannah Gray Development Corporation

Analysis

Hannah Gray Development Corporation is a registered charity in United States, based in New Haven, CT. It received its IRS tax-exemption ruling in April 1990, 36 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 June 2023, Hannah Gray Development Corporation reported income of $471k and spending of $605k, spending 128% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $491k to $471k (-4.1%), an average of -1.0% a year. Over the whole period it spent 116% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Hannah Gray Development Corporation sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 67th percentile within CT. Charities of a similar size with the same main cause include Christ Episcopal Church Foundation ($471k), Dale County Association of Fire Fighters Inc ($471k) and PTA California Congress of Parents Teachers & Students Inc ($471k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $184k. At year end it held assets of $966k against liabilities of $315k, net assets of $651k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.