Hope Faith Ministries Inc

Analysis

Hope Faith Ministries Inc is a registered charity in United States, based in Kansas City, MO. It received its IRS tax-exemption ruling in October 2004, 22 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, Hope Faith Ministries Inc reported income of $2.2m and spending of $2.0m, spending 94% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.2m to $2.2m (+84%), an average of +16% a year. The sharpest change came in the year to December 2020, when income rose by 88%. Over the whole period it spent 106% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Hope Faith Ministries Inc sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 85th percentile within MO. Charities of a similar size with the same main cause include Heartland Inc ($2.2m), Keeping Kids Safe Inc ($2.2m) and Kidspace Childcare Center ($2.2m).

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 $97k (4.7% of expenses). Other salaries and wages came to $766k. At year end it held assets of $3.8m against liabilities of $272k, net assets of $3.6m. It reported 71 employees.