Hbcu First Inc

Analysis

Hbcu First Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in December 2019, 7 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, Hbcu First Inc reported income of $418k and spending of $447k, spending 107% of what it took in. Across the 4 years on record, from December 2020 to December 2023, income grew from $57k to $418k (+638%), an average of +95% a year. The sharpest change came in the year to December 2021, when income rose by 253%. Over the whole period it spent 105% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Hbcu First Inc sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 67th percentile, and in the 63rd percentile within NY. Charities of a similar size with the same main cause include Southwest Indian Agricultural Association Inc ($418k), Bloom Arts Foundation Inc ($418k) and Rubber City Shakespeare Company ($418k).

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 $108k (24% of expenses). At year end it held assets of $101k against liabilities of $75k, net assets of $26k. It reported 1 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.