Hit the Books Inc

Analysis

Hit the Books Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in April 2020, 6 years ago. Its declared purposes cover youth development, which this site groups under children and youth 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, Hit the Books Inc reported income of $955k and spending of $931k, spending 98% of its income. Across the 4 years on record, from December 2020 to December 2023, income grew from $508k to $955k (+88%), an average of +23% a year. The sharpest change came in the year to December 2023, when income rose by 27%. Over the whole period it spent 93% of the income it received.

Among 14,332 United States charities whose main cause is children and youth development and that reported income, Hit the Books Inc sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 75th percentile within NY. Charities of a similar size with the same main cause include Generation Alive ($955k), Arab American Action Network ($957k) and Boy Scouts of America ($954k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $57k (6.2% of expenses). Other salaries and wages came to $357k. At year end it held assets of $955k against liabilities of $641k, net assets of $314k. It reported 21 employees.