Helping Hand of Myrtle Beach Inc

Analysis

Helping Hand of Myrtle Beach Inc is a registered charity in United States, based in Myrtle Beach, SC. It received its IRS tax-exemption ruling in October 1976, 50 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 2022, Helping Hand of Myrtle Beach Inc reported income of $785k and spending of $748k, spending 95% of its income. Across the 4 years on record, from December 2019 to December 2022, income grew from $330k to $785k (+138%), an average of +34% a year. The sharpest change came in the year to December 2020, when income rose by 180%. Over the whole period it spent 95% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Helping Hand of Myrtle Beach Inc sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 80th percentile within SC. Charities of a similar size with the same main cause include Swiftsure Ranch Theraputic Equestrian Center Inc ($784k), Midland Community Development Corporation ($785k) and Coalition of Tracy Citizens to Assist the Homeless ($784k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 90% of the total. Compensation of current officers, directors and key employees was $51k (6.8% of expenses). Other salaries and wages came to $137k. At year end it held assets of $569k against liabilities of $15k, net assets of $554k. It reported 10 employees.