Friends of Hoyt Park

Analysis

Friends of Hoyt Park is a registered charity in United States, based in Wauwatosa, WI. It received its IRS tax-exemption ruling in September 2006, 20 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 2023, Friends of Hoyt Park reported income of $1.8m and spending of $1.9m, spending 109% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.4m to $1.8m (+29%), an average of +6.5% a year. The sharpest change came in the year to December 2021, when income rose by 32%. Over the whole period it spent 112% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Friends of Hoyt Park sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 85th percentile within WI. Charities of a similar size with the same main cause include Needham Soccer Club ($1.8m), Womens Basketball Hall of Fame Inc ($1.8m) and Pirates Charities ($1.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 4.9% and program service revenue 88% of the total. Compensation of current officers, directors and key employees was $105k (5.5% of expenses). Other salaries and wages came to $701k. At year end it held assets of $6.2m against liabilities of $1.1m, net assets of $5.1m. It reported 117 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.