Hoy Recovery Program Inc

Analysis

Hoy Recovery Program Inc is a registered charity in United States, based in Espanola, NM. It received its IRS tax-exemption ruling in March 1976, 50 years ago. 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 June 2023, Hoy Recovery Program Inc reported income of $2.4m and spending of $2.5m, spending 104% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $2.9m to $2.4m (-17%), an average of -4.4% a year. The sharpest change came in the year to June 2021, when income dropped by 21%. Over the whole period it spent 107% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Hoy Recovery Program Inc sits at the 87th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 88th percentile within NM. Charities of a similar size with the same main cause include Holyoke Community College Foundation Inc ($2.4m), J R Coleman Family Services Corp ($2.4m) and Veterans Bio-Medical Research Institute Inc ($2.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 7.6% and program service revenue 90% of the total. Compensation of current officers, directors and key employees was $91k (3.6% of expenses). Other salaries and wages came to $1.7m. At year end it held assets of $1.3m against liabilities of $492k, net assets of $767k. It reported 80 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.