Hack Foundation

Analysis

Hack Foundation is a registered charity in United States, based in W Hollywood, CA. It received its IRS tax-exemption ruling in December 2016, 10 years ago. Its declared purposes cover science and technology, 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, Hack Foundation reported income of $11.4m and spending of $6.0m, leaving 47% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.6m to $11.4m (+589%), an average of +62% a year. The sharpest change came in the year to December 2023, when income rose by 128%. Over the whole period it spent 57% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Hack Foundation sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 96th percentile within CA. Charities of a similar size with the same main cause include The Film Collaborative Inc ($11.3m), Taller Puertorriqueno Inc ($11.4m) and The Pacifica Foundation ($11.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 97% and program service revenue 2.0% of the total. Compensation of current officers, directors and key employees was $308k (5.1% of expenses). Other salaries and wages came to $1.1m. At year end it held assets of $10.3m against liabilities of $188k, net assets of $10.1m. It reported 30 employees.