T R Hoover Community Development Corporation Inc

Analysis

T R Hoover Community Development Corporation Inc is a registered charity in United States, based in Dallas, TX. It received its IRS tax-exemption ruling in October 1997, 29 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 December 2023, T R Hoover Community Development Corporation Inc reported income of $308k and spending of $215k, leaving 30% of income unspent that year. Across the 3 years on record, from December 2021 to December 2023, income fell from $309k to $308k (-0.4%), an average of -0.2% a year. The sharpest change came in the year to December 2023, when income rose by 60%. Over the whole period it spent 58% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, T R Hoover Community Development Corporation Inc sits at the 59th percentile: it is larger than about 59% of them. Against every charity in United States with reported income it ranks in the 62nd percentile, and in the 67th percentile within TX. Charities of a similar size with the same main cause include Womans Club of Erie Inc ($308k), Design Platform ($308k) and Entrepreneurial and Education Center Inc ($308k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 93% of the total. Compensation of current officers, directors and key employees was $15k (7.0% of expenses). Other salaries and wages came to $17k. At year end it held assets of $621k against liabilities of $0, net assets of $621k. It reported 2 employees.