Centro Hispano de Frederick Inc

Analysis

Centro Hispano de Frederick Inc is a registered charity in United States, based in Frederick, MD. It received its IRS tax-exemption ruling in January 2008, 18 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Centro Hispano de Frederick Inc reported income of $168k and spending of $337k, spending 200% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income fell from $535k to $168k (-69%), an average of -68% a year. The sharpest change came in the year to December 2023, when income dropped by 69%. Over the whole period it spent 77% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Centro Hispano de Frederick Inc sits at the 44th percentile: it is larger than about 44% of them. Against every charity in United States with reported income it ranks in the 50th percentile, and in the 50th percentile within MD. Charities of a similar size with the same main cause include Mace Foundation ($168k), Abbas House Ministries Inc ($168k) and Nehemiah Project Covenant of Love ($168k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 106% of the total. Other salaries and wages came to $88k. At year end it held assets of $500k against liabilities of $206k, net assets of $294k. It reported 3 employees.