Beacon of Hope Ministries

Analysis

Beacon of Hope Ministries is a registered charity in United States, based in Fort Dodge, IA. It received its IRS tax-exemption ruling in September 2010, 16 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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, Beacon of Hope Ministries reported income of $755k and spending of $755k, spending 100% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $629k to $755k (+20%), an average of +4.7% a year. The sharpest change came in the year to December 2021, when income rose by 20%. Over the whole period it spent 93% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Beacon of Hope Ministries sits at the 67th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 79th percentile within IA. Charities of a similar size with the same main cause include Villa Seton Inc ($755k), Lydias Place Womens and Family Shelter of Randolph ($755k) and Hopebuilders Home Repair Inc ($755k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 76% and program service revenue 24% of the total. Other salaries and wages came to $344k. At year end it held assets of $1.2m against liabilities of $1,545, net assets of $1.2m. It reported 17 employees.