Homes of Hope Inc

Analysis

Homes of Hope Inc is a registered charity in United States, based in Wray, CO. It received its IRS tax-exemption ruling in May 2006, 20 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 December 2023, Homes of Hope Inc reported income of $177k and spending of $144k, spending 82% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $119k to $177k (+49%), an average of +10% a year. The sharpest change came in the year to December 2021, when income rose by 39%. Over the whole period it spent 104% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Homes of Hope Inc sits at the 46th percentile: it is larger than about 46% of them. Against every charity in United States with reported income it ranks in the 51st percentile, and in the 47th percentile within CO. Charities of a similar size with the same main cause include Star Center Foundation ($177k), East Kentucky Dream Center Inc ($177k) and Aspiring to Serve Inc ($177k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $44k (30% of expenses). At year end it held assets of $74k against liabilities of $12k, net assets of $62k. It reported 1 employees.