Hartford Business Improvement District

Analysis

Hartford Business Improvement District is a registered charity in United States, based in Hartford, CT. It received its IRS tax-exemption ruling in July 2009, 17 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 June 2023, Hartford Business Improvement District reported income of $1.4m and spending of $1.3m, spending 98% of its income. Across the 4 years on record, from June 2019 to June 2023, income grew from $1.1m to $1.4m (+24%), an average of +7.5% a year. The sharpest change came in the year to June 2022, when income rose by 27%. Over the whole period it spent 96% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Hartford Business Improvement District sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 81st percentile within CT. Charities of a similar size with the same main cause include Hope for Home Ministries ($1.4m), Childrens Hope ($1.4m) and Beulah Park District ($1.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 85% and program service revenue 15% of the total. Compensation of current officers, directors and key employees was $133k (10.0% of expenses). Other salaries and wages came to $190k. At year end it held assets of $680k against liabilities of $138k, net assets of $542k. It reported 3 employees.