Hazelwood Initiative Inc

Analysis

Hazelwood Initiative Inc is a registered charity in United States, based in Pittsburgh, PA. It received its IRS tax-exemption ruling in October 1999, 27 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 December 2023, Hazelwood Initiative Inc reported income of $2.8m and spending of $2.9m, spending 103% of its income. Across the 6 years on record, from December 2018 to December 2023, income fell from $4.9m to $2.8m (-43%), an average of -11% a year. The sharpest change came in the year to December 2019, when income dropped by 69%. 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, Hazelwood Initiative Inc sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 87th percentile within PA. Charities of a similar size with the same main cause include J H P Inc ($2.8m), Felix E Martin Jr Foundation Inc ($2.8m) and Dev Color ($2.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 78% and program service revenue 30% of the total. Compensation of current officers, directors and key employees was $113k (4.0% of expenses). Other salaries and wages came to $286k. At year end it held assets of $14.2m against liabilities of $5.0m, net assets of $9.1m. It reported 8 employees.