Hope Association

Analysis

Hope Association is a registered charity in United States, based in Rumford, ME. It received its IRS tax-exemption ruling in November 2001, 25 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. 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 June 2024, Hope Association reported income of $5.2m and spending of $4.9m, spending 94% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $4.2m to $5.2m (+24%), an average of +5.6% a year. The sharpest change came in the year to June 2023, when income rose by 28%. Over the whole period it spent 85% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Hope Association sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 92nd percentile within ME. Charities of a similar size with the same main cause include Cheboygan Life Support Systems Inc ($5.2m), CDS Family and Behavioral Health Services Inc ($5.2m) and Community Network for Behavioral Healthcare Inc ($5.2m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 0.5% and program service revenue 95% of the total. Compensation of current officers, directors and key employees was $81k (1.6% of expenses). Other salaries and wages came to $2.7m. At year end it held assets of $11.3m against liabilities of $342k, net assets of $11.0m. It reported 125 employees.