Hope Village Revitalization

Analysis

Hope Village Revitalization is a registered charity in United States, based in Detroit, MI. It received its IRS tax-exemption ruling in September 2003, 23 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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, Hope Village Revitalization reported income of $783k and spending of $561k, leaving 28% of income unspent that year. Across the 4 years on record, from September 2020 to September 2023, income grew from $298k to $783k (+163%), an average of +38% a year. The sharpest change came in the year to September 2023, when income rose by 95%. Over the whole period it spent 84% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Hope Village Revitalization sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 76th percentile within MI. Charities of a similar size with the same main cause include Heppner Economic Development Corporation ($783k), Spartanburg Recreational Facilities Corporation ($783k) and Santa Fe Business Incubator Inc ($783k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 97% and program service revenue 2.6% of the total. Other salaries and wages came to $278k. At year end it held assets of $631k against liabilities of $31k, net assets of $600k. It reported 6 employees.