Hbcu Founders Initiative

Analysis

Hbcu Founders Initiative is a registered charity in United States, based in San Francisco, CA. It received its IRS tax-exemption ruling in December 2021, 5 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic 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 June 2023, Hbcu Founders Initiative reported income of $1.2m and spending of $1.2m, spending 100% of its income. Across the 2 years on record, from June 2022 to June 2023, income grew from $725k to $1.2m (+62%), an average of +62% a year. The sharpest change came in the year to June 2023, when income rose by 62%. Over the whole period it spent 100% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Hbcu Founders Initiative sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 82nd percentile within CA. Charities of a similar size with the same main cause include City Club of Chicago ($1.2m), Grow Grand Island ($1.2m) and Highsight ($1.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $76k. At year end it held assets of $8,693 against liabilities of $500, net assets of $8,193.