Hackdiversity Inc

Analysis

Hackdiversity Inc is a registered charity in United States, based in Boston, MA. It received its IRS tax-exemption ruling in May 2022, 4 years ago. Its declared purposes cover employment, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Hackdiversity Inc reported income of $3.3m and spending of $3.1m, spending 94% of its income. Across the 3 years on record, from December 2021 to December 2023, income grew from $298k to $3.3m (+1005%), an average of +232% a year. The sharpest change came in the year to December 2022, when income rose by 1251%. Over the whole period it spent 78% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Hackdiversity Inc sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 88th percentile within MA. Charities of a similar size with the same main cause include Catholic Charities Regional Agency ($3.3m), Eastern Iowa Workforce Development Inc ($3.3m) and Lower Roxbury Community Corporation ($3.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 63% and program service revenue 37% of the total. Compensation of current officers, directors and key employees was $376k (12% of expenses). Other salaries and wages came to $1.5m. At year end it held assets of $3.3m against liabilities of $171k, net assets of $3.1m. It reported 27 employees.