H3 Collective

Analysis

H3 Collective is a registered charity in United States, based in Asheville, NC. It received its IRS tax-exemption ruling in March 2020, 6 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 2022, H3 Collective reported income of $1.1m and spending of $317k, leaving 72% of income unspent that year. Across the 2 years on record, from December 2021 to December 2022, income grew from $85k to $1.1m (+1214%), an average of +1214% a year. The sharpest change came in the year to December 2022, when income rose by 1214%. Over the whole period it spent 27% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, H3 Collective sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 81st percentile within NC. Charities of a similar size with the same main cause include School Nutrition Foundation ($1.1m), Farmshare Austin ($1.1m) and Irreducible Grace Foundation ($1.1m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 93% and program service revenue 7.1% of the total. Compensation of current officers, directors and key employees was $143k (45% of expenses). At year end it held assets of $1.6m against liabilities of $389k, net assets of $1.3m. It reported 2 employees.