Hola Carolina

Analysis

Hola Carolina is a registered charity in United States, based in Asheville, NC. It received its IRS tax-exemption ruling in October 2017, 9 years ago. Its declared purposes cover arts, culture and humanities, 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, Hola Carolina reported income of $449k and spending of $579k, spending 129% of what it took in. Across the 4 years on record, from December 2020 to December 2023, income fell from $1.0m to $449k (-56%), an average of -24% a year. The sharpest change came in the year to December 2023, when income dropped by 49%. Over the whole period it spent 80% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Hola Carolina sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 68th percentile, and in the 68th percentile within NC. Charities of a similar size with the same main cause include Friends of Olympia Station Inc ($449k), Cultural Council of Indian River County Inc ($449k) and Brasil Brasil Cultural Center ($449k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 92% and program service revenue 2.4% of the total. Compensation of current officers, directors and key employees was $174k (30% of expenses). At year end it held assets of $617k against liabilities of $8,389, net assets of $609k. It reported 2 employees.