Hip Kids Inc

Analysis

Hip Kids Inc is a registered charity in United States, based in Quincy, MA. It received its IRS tax-exemption ruling in June 2023, 3 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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, Hip Kids Inc reported income of $270k and spending of $272k, spending 101% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $33k to $270k (+712%), an average of +712% a year. The sharpest change came in the year to December 2023, when income rose by 712%. Over the whole period it spent 98% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Hip Kids Inc sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 60th percentile, and in the 62nd percentile within MA. Charities of a similar size with the same main cause include Ethnic Education Hawaii ($270k), Greater Port Clinton Area Arts Council ($270k) and Texas Latino Pride ($270k).

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 $51k (19% of expenses). Other salaries and wages came to $208k. At year end it held assets of $6,843 against liabilities of $0, net assets of $6,843. It reported 1 employees.