Boys Club of Hobbs Inc

Analysis

Boys Club of Hobbs Inc is a registered charity in United States, based in Hobbs, NM. It received its IRS tax-exemption ruling in March 1967, 59 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, Boys Club of Hobbs Inc reported income of $1.6m and spending of $2.4m, spending 146% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.5m to $1.6m (+8.3%), an average of +2.0% a year. The sharpest change came in the year to December 2021, when income rose by 56%. Over the whole period it spent 142% of the income it received.

Among 14,332 United States charities whose main cause is children and youth development and that reported income, Boys Club of Hobbs Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 85th percentile within NM. Charities of a similar size with the same main cause include Boys & Girls Club of Watertown Inc ($1.6m), San Patricio County Agricultural and Homemakers Show Inc ($1.6m) and Big Brothers Big Sisters of Central Carolinas ($1.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 29% and program service revenue 60% of the total. Other salaries and wages came to $1.0m. At year end it held assets of $9.3m against liabilities of $7.7m, net assets of $1.7m. It reported 49 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.