Hats of Wisdom

Analysis

Hats of Wisdom is a registered charity in United States, based in Delta Junction, AK. It received its IRS tax-exemption ruling in September 2017, 9 years ago. Its declared purposes cover mental health and crisis intervention, which this site groups under health and saving lives. 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 2024, Hats of Wisdom reported income of $470k and spending of $485k, spending 103% of its income. Across the 6 years on record, from June 2019 to June 2024, income grew from $277k to $470k (+70%), an average of +11% a year. The sharpest change came in the year to June 2024, when income rose by 46%. Over the whole period it spent 106% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Hats of Wisdom sits at the 54th percentile: it is larger than about 54% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 65th percentile within AK. Charities of a similar size with the same main cause include Yvette a Flunder Foundation Inc ($470k), Aaron B Lackey Ministries ($470k) and Urmc Health Foundation Inc ($470k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 6.0% and program service revenue 94% of the total. Compensation of current officers, directors and key employees was $58k (12% of expenses). Other salaries and wages came to $196k. At year end it held assets of $65k against liabilities of $53k, net assets of $12k. It reported 11 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.