New Hope for Women Inc

Analysis

New Hope for Women Inc is a registered charity in United States, based in Rockland, ME. It received its IRS tax-exemption ruling in November 1981, 45 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 September 2023, New Hope for Women Inc reported income of $2.4m and spending of $2.0m, spending 83% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $1.1m to $2.4m (+123%), an average of +22% a year. The sharpest change came in the year to September 2023, when income rose by 44%. Over the whole period it spent 90% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, New Hope for Women Inc sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 86th percentile within ME. Charities of a similar size with the same main cause include Child Care Connection Inc ($2.4m), Spanish Community Center ($2.4m) and Victim Outreach Intervention Center Inc ($2.4m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 97% and program service revenue 0.3% of the total. Compensation of current officers, directors and key employees was $119k (5.9% of expenses). Other salaries and wages came to $860k. At year end it held assets of $2.2m against liabilities of $210k, net assets of $1.9m. It reported 25 employees.