Latino Health Insurance Program Inc

Analysis

Latino Health Insurance Program Inc is a registered charity in United States, based in Framingham, MA. It received its IRS tax-exemption ruling in December 2010, 16 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Latino Health Insurance Program Inc reported income of $1.6m and spending of $1.0m, leaving 34% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $487k to $1.6m (+227%), an average of +34% a year. The sharpest change came in the year to December 2022, when income rose by 83%. Over the whole period it spent 68% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Latino Health Insurance Program Inc sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 83rd percentile within MA. Charities of a similar size with the same main cause include Dynamic Dimensions Inc ($1.6m), Family Advocacy Network ($1.6m) and Joy Bus ($1.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 94% and program service revenue 6.1% of the total. Compensation of current officers, directors and key employees was $108k (10% of expenses). Other salaries and wages came to $515k. At year end it held assets of $1.9m against liabilities of $69k, net assets of $1.8m. It reported 17 employees.