Center of Hope Foundation Incorporated

Analysis

Center of Hope Foundation Incorporated is a registered charity in United States, based in Southbridge, MA. It received its IRS tax-exemption ruling in March 1960, 66 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 June 2023, Center of Hope Foundation Incorporated reported income of $10.8m and spending of $11.1m, spending 103% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $15.0m to $10.8m (-28%), an average of -7.9% a year. The sharpest change came in the year to June 2022, when income rose by 41%. Over the whole period it spent 96% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Center of Hope Foundation Incorporated sits at the 95th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 94th percentile within MA. Charities of a similar size with the same main cause include Webster Cantrell Youth Advocacy ($10.8m), Impact Inc ($10.8m) and The Teen Project Inc ($10.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 6.4% and program service revenue 93% of the total. Compensation of current officers, directors and key employees was $273k (2.5% of expenses). Other salaries and wages came to $6.6m. At year end it held assets of $11.8m against liabilities of $3.3m, net assets of $8.5m. It reported 336 employees.