Hourglass Project

Analysis

Hourglass Project is a registered charity in United States, based in San Luis Obispo, CA. It received its IRS tax-exemption ruling in April 2019, 7 years ago. Its declared purposes cover employment, 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 June 2023, Hourglass Project reported income of $1.7m and spending of $1.8m, spending 108% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $463k to $1.7m (+270%), an average of +39% a year. The sharpest change came in the year to June 2021, when income rose by 83%. Over the whole period it spent 85% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Hourglass Project sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 85th percentile within CA. Charities of a similar size with the same main cause include Greencorps Chicago ($1.7m), Chapter Two ($1.7m) and Southside Institutions Neighborhood Alliance Inc ($1.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $539k (29% of expenses). Other salaries and wages came to $274k. At year end it held assets of $849k against liabilities of $763, net assets of $848k. It reported 10 employees.