Hive Foundation Inc

Analysis

Hive Foundation Inc is a registered charity in United States, based in Cornelius, NC. It received its IRS tax-exemption ruling in April 2023, 3 years ago. Its declared purposes cover diseases, disorders and medical disciplines, which this site groups under health and saving lives. 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, Hive Foundation Inc reported income of $192k and spending of $192k, spending 100% of its income. Across the 3 years on record, from December 2021 to December 2023, income grew from $130k to $192k (+48%), an average of +22% a year. The sharpest change came in the year to December 2022, when income rose by 32%. Over the whole period it spent 96% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Hive Foundation Inc sits at the 40th percentile: it is larger than about 40% of them. Against every charity in United States with reported income it ranks in the 53rd percentile, and in the 51st percentile within NC. Charities of a similar size with the same main cause include Accelerate ($192k), Medical Loan Closet of Henderson County Inc ($192k) and Blue Ribbon Soiree ($192k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 10% and program service revenue 90% of the total. At year end it held assets of $33k against liabilities of $3,371, net assets of $30k.