Hispanic Cultural Center of Midland

Analysis

Hispanic Cultural Center of Midland is a registered charity in United States, based in Midland, TX. It received its IRS tax-exemption ruling in December 1997, 29 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 December 2023, Hispanic Cultural Center of Midland reported income of $390k and spending of $401k, spending 103% of its income. Across the 5 years on record, from May 2020 to December 2023, income grew from $177k to $390k (+120%), an average of +22% a year. The sharpest change came in the year to December 2023, when income rose by 110%. Over the whole period it spent 107% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Hispanic Cultural Center of Midland sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 71st percentile within TX. Charities of a similar size with the same main cause include We Players ($390k), Friends of the Upper East Side Historic District Inc ($390k) and Chesapeake Jubilee Inc ($390k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 95% and program service revenue 1.3% of the total. Compensation of current officers, directors and key employees was $45k (11% of expenses). Other salaries and wages came to $86k. At year end it held assets of $347k against liabilities of $2,436, net assets of $344k. It reported 8 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.