H a C E

Analysis

H a C E is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in August 1980, 46 years ago. Its declared purposes cover community improvement and capacity building, 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 2023, H a C E reported income of $6.3m and spending of $3.3m, leaving 48% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.9m to $6.3m (+116%), an average of +21% a year. The sharpest change came in the year to June 2021, when income rose by 89%. Over the whole period it spent 68% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, H a C E sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 92nd percentile within PA. Charities of a similar size with the same main cause include Magic City Enterprises Inc ($6.3m), United Workforce Development Board Inc ($6.3m) and Inquiring Systems Inc ($6.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 78% and program service revenue 21% of the total. Compensation of current officers, directors and key employees was $287k (8.8% of expenses). Other salaries and wages came to $998k. At year end it held assets of $18.5m against liabilities of $7.1m, net assets of $11.5m.