HSB Inc

Analysis

HSB Inc is a registered charity in United States, based in Wyoming, MI. It received its IRS tax-exemption ruling in July 2008, 18 years ago. Its declared purposes cover education, which this site groups under education and training. 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, HSB Inc reported income of $528k and spending of $567k, spending 107% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $869k to $528k (-39%), an average of -12% a year. The sharpest change came in the year to June 2020, when income dropped by 45%. Over the whole period it spent 101% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, HSB Inc sits at the 69th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 71st percentile within MI. Charities of a similar size with the same main cause include Mighty Oaks Enrichment Center ($528k), Friends of International School Beijing Inc ($528k) and Pine Technical College Foundation ($528k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 6.4% and program service revenue 70% of the total. Other salaries and wages came to $193k. At year end it held assets of $341k against liabilities of $192k, net assets of $149k. It reported 11 employees.