Hoops and Homework Inc

Analysis

Hoops and Homework Inc is a registered charity in United States, based in Framingham, MA. It received its IRS tax-exemption ruling in September 2020, 6 years ago. Its declared purposes cover youth development, which this site groups under children and youth 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 December 2023, Hoops and Homework Inc reported income of $590k and spending of $452k, leaving 23% of income unspent that year. Across the 6 years on record, from December 2018 to December 2023, income grew from $264k to $590k (+123%), an average of +17% a year. The sharpest change came in the year to December 2020, when income rose by 94%. Over the whole period it spent 71% of the income it received.

Among 14,332 United States charities whose main cause is children and youth development and that reported income, Hoops and Homework Inc 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 73rd percentile, and in the 73rd percentile within MA. Charities of a similar size with the same main cause include Pal of Massachusetts Inc ($590k), Jewish Teen Advancement Program Inc ($590k) and Project Blue Corps ($590k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 92% and program service revenue 2.4% of the total. Compensation of current officers, directors and key employees was $77k (17% of expenses). Other salaries and wages came to $147k. At year end it held assets of $866k against liabilities of $17k, net assets of $849k. It reported 12 employees.