Hudson Yards Hells Kitchen Business Improvement District Inc

Analysis

Hudson Yards Hells Kitchen Business Improvement District Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in July 2016, 10 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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, Hudson Yards Hells Kitchen Business Improvement District Inc reported income of $3.3m and spending of $3.6m, spending 106% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.5m to $3.3m (+125%), an average of +22% a year. The sharpest change came in the year to June 2020, when income rose by 101%. Over the whole period it spent 100% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Hudson Yards Hells Kitchen Business Improvement District Inc 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 87th percentile within NY. Charities of a similar size with the same main cause include Careers Industries Inc ($3.3m), Stark Economic Development Board Inc ($3.4m) and The Chehalis Foundation ($3.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.5% and program service revenue 99% of the total. Compensation of current officers, directors and key employees was $240k (6.7% of expenses). Other salaries and wages came to $503k. At year end it held assets of $1.0m against liabilities of $392k, net assets of $616k. It reported 7 employees.