Hispanic Foundation of Silicon Valley

Analysis

Hispanic Foundation of Silicon Valley is a registered charity in United States, based in San Jose, CA. It received its IRS tax-exemption ruling in August 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Hispanic Foundation of Silicon Valley reported income of $1.3m and spending of $1.9m, spending 145% of what it took in. Across the 5 years on record, from December 2019 to June 2023, income fell from $2.2m to $1.3m (-42%), an average of -13% a year. The sharpest change came in the year to June 2023, when income dropped by 62%. Over the whole period it spent 90% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Hispanic Foundation of Silicon Valley sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 83rd percentile within CA. Charities of a similar size with the same main cause include Marva Workshop Inc ($1.3m), Etna Economic Development Corporation ($1.3m) and Hampton Roads Workforce Foundation ($1.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 93% and program service revenue 1.5% of the total. Compensation of current officers, directors and key employees was $133k (7.2% of expenses). Other salaries and wages came to $300k. At year end it held assets of $4.9m against liabilities of $392k, net assets of $4.5m. It reported 9 employees.