Creative Hub Worcester Inc

Analysis

Creative Hub Worcester Inc is a registered charity in United States, based in Worcester, MA. It received its IRS tax-exemption ruling in July 2016, 10 years ago. 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 January 2024, Creative Hub Worcester Inc reported income of $1.9m and spending of $684k, leaving 64% of income unspent that year. Across the 4 years on record, from January 2021 to January 2024, income grew from $210k to $1.9m (+806%), an average of +108% a year. The sharpest change came in the year to January 2023, when income rose by 427%. Over the whole period it spent 36% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Creative Hub Worcester Inc sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 84th percentile within MA. Charities of a similar size with the same main cause include San Francisco Historical Society ($1.9m), Tanalian Bible Camp ($1.9m) and A Safe Place Inc ($1.9m).

On its Form 990 for the period ending January 2024, revenue came from contributions and grants 86% and program service revenue 12% of the total. Compensation of current officers, directors and key employees was $215k (31% of expenses). Other salaries and wages came to $52k. At year end it held assets of $4.6m against liabilities of $1.7m, net assets of $3.0m. It reported 15 employees.