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Hias Economic Advancement Fund Inc

EIN 88-0984307 · Silver Spring, MD

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthGood83 out of 100GovernanceStrong100 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

"HIAS ECONOMIC ADVANCEMENT FUND, INC. IS AN UNCONSOLIDATED SUBSIDIARY OF HIAS, INC. EAF MEETS THE FINANCIAL NEEDS OF LOW-INCOME INDIVIDUALS, INCLUDING REFUGEES, THEIR FAMILIES, AND THEIR COMMUNITIES BY PROVIDING ACCESS TO FINANCIAL PRODUCTS AND SERVICES THAT PROMOTE ECONOMIC OPPORTUNITY AND FINANCIAL WELL-BEING.

Income
$1.1 million
Spending
$751,941
Spent on programs
70%
Reserves
7.9 months of spending
Largest source of income
donations and private grants, 59%
Employees
6
Volunteers
6
Highest pay
$150,672, executive director

Source: Form 990 for the year ending September 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Good: 83 out of 100. Higher than 65% of charities in its peer group (community improvement, $1m to $10m).

  • Reserves

    28 of 35

    Spendable reserves would cover 7.9 months of spending.

  • Debt

    10 of 20

    It owes 49% of what it owns.

  • Living within its means

    15 of 15

    Income exceeded spending by 34% of income.

  • Income trend

    15 of 15

    Income rose 92% on the year before.

  • Spending floor

    15 of 15

    70% of spending went to programs and raising each dollar of donations cost 3 cents.

Source: Form 990 for the year ending September 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Strong: 100 out of 100. Higher than 68% of charities in its peer group (community improvement, $1m to $10m).

  • Independent board

    25 of 25

    5 of 5 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    8 of 8

    Has a written whistleblower policy.

  • Record keeping policy

    7 of 7

    Has a written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    10 of 10

    Gave the board a copy of this return before filing it.

  • Pay set independently

    5 of 5

    Sets its chief executive's pay through independent review and comparison.

  • Independent check of accounts

    15 of 15

    Its accounts were audited by an independent accountant.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending September 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (1)
  1. $528,120 spent. EAF ASSISTED 205 ENTREPRENEURS AND DISBURSED 36 MICROENTERPRISE LOANS IN 2025, COMPLEMENTED BY TECHNICAL ASSISTANCE DELIVERED THROUGH PARTNERSHIPS WITH COMMUNITY ORGANIZATIONS. THROUGH THESE PARTNERSHIPS, BORROWERS RECEIVE BUSINESS COUNSELING, FINANCIAL AND CREDIT EDUCATION, AND ACCESS TO CAPITAL THROUGH EAF. LOAN PRODUCTS ARE DESIGNED FOR LOW-INCOME INDIVIDUALS, INCLUDING REFUGEES AND IMMIGRANTS, WITH LITTLE OR NO CREDIT HISTORY, WHO ARE UNABLE TO ACCESS MAINSTREAM FINANCIAL INSTITUTIONS. IN 2024, EAF SERVED ENTREPRENEURS IN 18 CITIES ACROSS FIVE STATES, WITH LOANS AVERAGING $10,852. SURVEY ANALYSIS SHOWS STRONG OUTCOMES: 86% OF BUSINESSES REMAIN ACTIVE SINCE RECEIVING A LOAN, BORROWER HOUSEHOLDS REPORT INCOME GAINS OF MORE THAN $1,000 PER MONTH, AND 99% WOULD RECOMMEND EAF TO OTHERS.

Source: Form 990 for the year ending September 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated October 13, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending September 2025.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since May 2024.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 21, 2026.

Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.