Utec Hub Inc

Analysis

Utec Hub Inc is a registered charity in United States, based in Lowell, MA. It received its IRS tax-exemption ruling in January 2016, 10 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. The IRS classifies it as a supporting organisation (type i) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Utec Hub Inc reported income of $277k and spending of $213k, leaving 23% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income fell from $427k to $277k (-35%), an average of -10% a year. The sharpest change came in the year to June 2023, when income dropped by 31%. Over the whole period it spent 115% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Utec Hub Inc sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 60th percentile, and in the 62nd percentile within MA. Charities of a similar size with the same main cause include Navat Yisrael Inc ($277k), Kwon S Foundation Inc ($277k) and Miramar National Cemetery Support Foundation ($277k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. At year end it held assets of $2.2m against liabilities of $3,374, net assets of $2.2m.