Somerville Hispanic Association for Community Development Inc

Analysis

Somerville Hispanic Association for Community Development Inc is a registered charity in United States, based in Somerville, MA. It received its IRS tax-exemption ruling in July 2024, 2 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 2024, Somerville Hispanic Association for Community Development Inc reported income of $572k and spending of $169k, leaving 71% of income unspent that year. Across the 2 years on record, from June 2020 to June 2024, income grew from $220k to $572k (+160%), an average of +160% a year. The sharpest change came in the year to June 2024, when income rose by 160%. Over the whole period it spent 31% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Somerville Hispanic Association for Community Development Inc sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 72nd percentile within MA. Charities of a similar size with the same main cause include Progressive Steps ($572k), Honor Flight Tucson ($572k) and Neighborhood Depot Inc ($572k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 92% of the total. At year end it held assets of $2.0m against liabilities of $289k, net assets of $1.7m.