Hampton Roads Educational Telecommunications Association Inc

Analysis

Hampton Roads Educational Telecommunications Association Inc is a registered charity in United States, based in Norfolk, VA. It received its IRS tax-exemption ruling in February 1969, 57 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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, Hampton Roads Educational Telecommunications Association Inc reported income of $15.8m and spending of $17.6m, spending 111% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income fell from $20.5m to $15.8m (-23%), an average of -8.3% a year. The sharpest change came in the year to June 2022, when income dropped by 37%. Over the whole period it spent 89% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Hampton Roads Educational Telecommunications Association Inc sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 97th percentile within VA. Charities of a similar size with the same main cause include Chicago Historical Society ($15.7m), Yerba Buena Center for the Arts ($15.8m) and Colorado Ballet Company ($15.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 56% and program service revenue 29% of the total. Compensation of current officers, directors and key employees was $496k (2.8% of expenses). Other salaries and wages came to $7.5m. At year end it held assets of $31.5m against liabilities of $2.0m, net assets of $29.5m. It reported 146 employees.