Hoodneck Inc

Analysis

Hoodneck Inc is a registered charity in United States, based in Galveston, TX. It received its IRS tax-exemption ruling in May 2020, 6 years ago. Its declared purposes cover recreation and sports, which this site groups under amateur sport and recreation. 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 2022, Hoodneck Inc reported income of $112k and spending of $9,371, leaving 92% of income unspent that year. Across the 2 years on record, from December 2020 to December 2022, income grew from $59k to $112k (+89%), an average of +89% a year. The sharpest change came in the year to December 2022, when income rose by 89%. Over the whole period it spent 30% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Hoodneck Inc sits at the 50th percentile: it is larger than about 50% of them. Against every charity in United States with reported income it ranks in the 40th percentile, and in the 43rd percentile within TX. Charities of a similar size with the same main cause include Midwest Volleyball Power ($112k), Leavenworth City Soccer Association ($112k) and Lancer Gridiron Club ($112k).

On its Form 990-EZ for the period ending December 2022, revenue came from contributions and grants 100% of the total. At year end it held assets of $173k against liabilities of $60k, net assets of $113k.