El Centro Hispano Inc

Analysis

El Centro Hispano Inc is a registered charity in United States, based in Durham, NC. It received its IRS tax-exemption ruling in January 1998, 28 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, El Centro Hispano Inc reported income of $3.4m and spending of $4.4m, spending 129% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.7m to $3.4m (+100%), an average of +19% a year. The sharpest change came in the year to June 2021, when income rose by 177%. Over the whole period it spent 92% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, El Centro Hispano Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 91st percentile within NC. Charities of a similar size with the same main cause include Vision Urbana Inc ($3.4m), Join Inc ($3.4m) and Region VI Workforce Investment Board Inc ($3.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $83k (1.9% of expenses). Other salaries and wages came to $1.9m. At year end it held assets of $2.6m against liabilities of $802k, net assets of $1.8m. It reported 62 employees.