Hostel Detroit

Analysis

Hostel Detroit is a registered charity in United States, based in Detroit, MI. It received its IRS tax-exemption ruling in September 2012, 14 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Hostel Detroit reported income of $226k and spending of $280k, spending 124% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $257k to $226k (-12%), an average of -3.2% a year. The sharpest change came in the year to December 2020, when income dropped by 65%. Over the whole period it spent 116% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Hostel Detroit sits at the 53rd percentile: it is larger than about 53% of them. Against every charity in United States with reported income it ranks in the 56th percentile, and in the 56th percentile within MI. Charities of a similar size with the same main cause include Business Association of West Parkside ($226k), Nevada Business Opportunity Fund ($226k) and The Manchester Citizens Corporation ($226k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Compensation of current officers, directors and key employees was $131k (47% of expenses). Other salaries and wages came to $24k. At year end it held assets of $430k against liabilities of $453k, net assets of -$23k. It reported 11 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.