Wire Hollow Education Innovation

Analysis

Wire Hollow Education Innovation is a registered charity in United States, based in Lubbock, TX. It received its IRS tax-exemption ruling in February 2020, 6 years ago. Its declared purposes cover education, which this site groups under education and training. 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 August 2023, Wire Hollow Education Innovation reported income of $4.0m and spending of $3.7m, spending 91% of its income. Across the 6 years on record, from August 2018 to August 2023, income grew from $215k to $4.0m (+1783%), an average of +80% a year. The sharpest change came in the year to August 2019, when income rose by 255%. Over the whole period it spent 96% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Wire Hollow Education Innovation sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 93rd percentile within TX. Charities of a similar size with the same main cause include The Schott Foundation for Public Education ($4.0m), Friendship Christian School Incorporated ($4.0m) and Good Shepherd Nativity Mission School Inc ($4.0m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 39% and program service revenue 61% of the total. Compensation of current officers, directors and key employees was $120k (3.2% of expenses). Other salaries and wages came to $2.1m. At year end it held assets of $4.6m against liabilities of $4.1m, net assets of $532k. It reported 69 employees.