Hive Mentality

Analysis

Hive Mentality is a registered charity in United States, based in Richmond, VA. It received its IRS tax-exemption ruling in April 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, Hive Mentality reported income of $725k and spending of $597k, spending 82% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $469k to $725k (+55%), an average of +54% a year. The sharpest change came in the year to December 2023, when income rose by 55%. Over the whole period it spent 82% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Hive Mentality sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 76th percentile within VA. Charities of a similar size with the same main cause include Global Innovation Fund ($725k), Senior Charity Care Foundation ($725k) and Community Child Care Center Inc ($725k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $188k (32% of expenses). Other salaries and wages came to $203k. It paid $27k in professional fundraising fees. At year end it held assets of $270k against liabilities of $54k, net assets of $216k. It reported 9 employees.