Hed Group Inc

Analysis

Hed Group Inc is a registered charity in United States, based in Tuscaloosa, AL. It received its IRS tax-exemption ruling in March 2017, 9 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 (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, Hed Group Inc reported income of $1.1m and spending of $546k, leaving 51% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $699k to $1.1m (+59%), an average of +59% a year. The sharpest change came in the year to December 2023, when income rose by 59%. Over the whole period it spent 65% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Hed Group Inc sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 84th percentile within AL. Charities of a similar size with the same main cause include Los Angeles Chargers Charities ($1.1m), Advance Albany County Alliance Local Development Corporation ($1.1m) and Community Design Collaborative of Philadelphia ($1.1m).

At year end it held assets of $630k against liabilities of $0, net assets of $630k. It reported 45 employees.