Hobe Sound Community Chest Inc

Analysis

Hobe Sound Community Chest Inc is a registered charity in United States, based in Hobe Sound, FL. It received its IRS tax-exemption ruling in May 1949, 77 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 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, Hobe Sound Community Chest Inc reported income of $3.0m and spending of $3.9m, spending 130% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $842k to $3.0m (+254%), an average of +37% a year. The sharpest change came in the year to June 2020, when income rose by 170%. 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, Hobe Sound Community Chest 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 89th percentile, and in the 90th percentile within FL. Charities of a similar size with the same main cause include Evsc Foundation Inc ($3.0m), Missouri Slope Areawide United Way Inc ($3.0m) and United Way of Frederick County Incorporated ($3.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 93% of the total. Compensation of current officers, directors and key employees was $149k (3.9% of expenses). Other salaries and wages came to $168k. At year end it held assets of $3.0m against liabilities of $176k, net assets of $2.8m. It reported 3 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.