Hillside Residence Inc

Analysis

Hillside Residence Inc is a registered charity in United States, based in Holyoke, MA. It received its IRS tax-exemption ruling in March 1946, 80 years ago. 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, Hillside Residence Inc reported income of $438k and spending of $704k, spending 161% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.2m to $438k (-63%), an average of -22% a year. The sharpest change came in the year to December 2020, when income dropped by 68%. Over the whole period it spent 88% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Hillside Residence Inc sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 68th percentile, and in the 69th percentile within MA. Charities of a similar size with the same main cause include Keep McAllen Beautiful Inc ($438k), Carter County Senior Center Board Inc ($438k) and Rye Youth Council Inc ($438k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 1.8% and program service revenue 97% of the total. Other salaries and wages came to $136k. At year end it held assets of $8.3m against liabilities of $6.8m, net assets of $1.5m.

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.