Hip Society

Analysis

Hip Society is a registered charity in United States, based in Schaumburg, IL. It received its IRS tax-exemption ruling in April 1974, 52 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Hip Society reported income of $962k and spending of $877k, spending 91% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.0m to $962k (-4.5%), an average of -1.1% a year. The sharpest change came in the year to December 2022, when income rose by 76%. Over the whole period it spent 87% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Hip Society sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 78th percentile within IL. Charities of a similar size with the same main cause include Sanborn Gratiot Memorial Home ($962k), Nebraska Communities Playhouse ($962k) and The Center for Anti-Violence Education Inc ($962k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 38% and program service revenue 45% of the total. Compensation of current officers, directors and key employees was $79k (9.0% of expenses). Other salaries and wages came to $85k. At year end it held assets of $6.8m against liabilities of $210k, net assets of $6.5m.