Homeboy Art Academy Inc

Analysis

Homeboy Art Academy Inc is a registered charity in United States, based in Los Angeles, CA. It received its IRS tax-exemption ruling in March 2022, 4 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Homeboy Art Academy Inc reported income of $1.7m and spending of $925k, leaving 47% of income unspent that year. Across the 4 years on record, from December 2020 to December 2023, income grew from $164k to $1.7m (+958%), an average of +120% a year. The sharpest change came in the year to December 2021, when income rose by 804%. Over the whole period it spent 60% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Homeboy Art Academy Inc sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 85th percentile within CA. Charities of a similar size with the same main cause include West End Day Nursery of New Bedford Inc ($1.7m), Virginia Alliance of Ymcas ($1.7m) and American Institute for Stuttering Treatment and Professional Trainin ($1.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% of the total. Other salaries and wages came to $402k. At year end it held assets of $1.5m against liabilities of $19k, net assets of $1.5m.