Hometown Connect Inc

Analysis

Hometown Connect Inc is a registered charity in United States, based in Columbia, KY. It received its IRS tax-exemption ruling in April 2022, 4 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 December 2023, Hometown Connect Inc reported income of $360k and spending of $310k, spending 86% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $50k to $360k (+615%), an average of +615% a year. The sharpest change came in the year to December 2023, when income rose by 615%. Over the whole period it spent 89% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Hometown Connect Inc sits at the 62nd percentile: it is larger than about 62% of them. Against every charity in United States with reported income it ranks in the 65th percentile, and in the 65th percentile within KY. Charities of a similar size with the same main cause include Ncwedd ($360k), Miami Downtown Redevelopment Authority ($360k) and Downtown Wichita Falls Development Inc ($360k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 96% of the total. Other salaries and wages came to $192k. At year end it held assets of $51k against liabilities of $5,397, net assets of $46k. It reported 10 employees.