Hillsborough Street Community Service Corporation

Analysis

Hillsborough Street Community Service Corporation is a registered charity in United States, based in Raleigh, NC. It received its IRS tax-exemption ruling in June 2011, 15 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, Hillsborough Street Community Service Corporation reported income of $1.5m and spending of $1.3m, spending 89% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $986k to $1.5m (+53%), an average of +11% a year. The sharpest change came in the year to June 2023, when income rose by 35%. Over the whole period it spent 90% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Hillsborough Street Community Service Corporation sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 84th percentile within NC. Charities of a similar size with the same main cause include Montana Nonprofit Association Inc ($1.5m), Graham County Substance Abuse Coalition ($1.5m) and Lake County Land Reutilization Corp ($1.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 16% and program service revenue 79% of the total. Compensation of current officers, directors and key employees was $123k (9.2% of expenses). Other salaries and wages came to $226k. At year end it held assets of $1.2m against liabilities of $37k, net assets of $1.1m. It reported 6 employees.