Rhode Island Hispanic Chamber of Commerce

Analysis

Rhode Island Hispanic Chamber of Commerce is a registered charity in United States, based in Providence, RI. It received its IRS tax-exemption ruling in November 2016, 10 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 December 2023, Rhode Island Hispanic Chamber of Commerce reported income of $636k and spending of $568k, spending 89% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $106k to $636k (+501%), an average of +56% a year. The sharpest change came in the year to December 2020, when income rose by 200%. Over the whole period it spent 82% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Rhode Island Hispanic Chamber of Commerce sits at the 71st percentile: it is larger than about 71% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 70th percentile within RI. Charities of a similar size with the same main cause include Partnership for the Public Good ($636k), Greater St Louis County Fire Academy Inc ($636k) and Federal Valley Resource Center ($635k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 53% and program service revenue 31% of the total. Other salaries and wages came to $271k. At year end it held assets of $398k against liabilities of $0, net assets of $398k. It reported 9 employees.