Hebrew Free Loan Association of District of Columbia

Analysis

Hebrew Free Loan Association of District of Columbia is a registered charity in United States, based in Silver Spring, MD. It received its IRS tax-exemption ruling in March 1956, 70 years ago. Its declared purposes cover public and societal benefit, which this site groups under other charitable purposes. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Hebrew Free Loan Association of District of Columbia reported income of $373k and spending of $120k, leaving 68% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $158k to $373k (+137%), an average of +24% a year. The sharpest change came in the year to December 2020, when income rose by 110%. Over the whole period it spent 34% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Hebrew Free Loan Association of District of Columbia 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 65th percentile, and in the 65th percentile within MD. Charities of a similar size with the same main cause include Kidron Volunteer Fire Department Inc ($373k), New School of Monmouth County Inc ($373k) and Whole Latte Love Cafe Inc ($373k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $49k (41% of expenses). Other salaries and wages came to $24k. At year end it held assets of $1.5m against liabilities of $116k, net assets of $1.4m. It reported 2 employees.