Hispanic Alliance for Career Enhancement

Analysis

Hispanic Alliance for Career Enhancement is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in May 1985, 41 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, Hispanic Alliance for Career Enhancement reported income of $3.4m and spending of $2.6m, leaving 23% of income unspent that year. Across the 6 years on record, from June 2019 to December 2023, income grew from $1.8m to $3.4m (+84%), an average of +13% a year. The sharpest change came in the year to June 2021, when income rose by 143%. Over the whole period it spent 79% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Hispanic Alliance for Career Enhancement sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 90th percentile within IL. Charities of a similar size with the same main cause include Urban Strategies Council ($3.4m), Habitat for Humanity International Inc ($3.4m) and Big Brothers Big Sisters of South Texas Inc ($3.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 37% and program service revenue 73% of the total. Compensation of current officers, directors and key employees was $484k (19% of expenses). Other salaries and wages came to $767k. At year end it held assets of $3.5m against liabilities of $742k, net assets of $2.8m. It reported 24 employees.