Hopewell Inc

Analysis

Hopewell Inc is a registered charity in United States, based in Dedham, MA. It received its IRS tax-exemption ruling in April 1968, 58 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, Hopewell Inc reported income of $25.6m and spending of $23.8m, spending 93% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $22.8m to $25.6m (+12%), an average of +2.9% a year. The sharpest change came in the year to June 2023, when income rose by 21%. Over the whole period it spent 97% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Hopewell Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 97th percentile within MA. Charities of a similar size with the same main cause include Family Design Resources Inc ($25.5m), Southern California Health & Rehabilitation Program ($25.6m) and Connecticut Baptist Homes Inc ($25.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 15% and program service revenue 80% of the total. Compensation of current officers, directors and key employees was $611k (2.6% of expenses). Other salaries and wages came to $9.0m. At year end it held assets of $20.2m against liabilities of $4.9m, net assets of $15.3m. It reported 167 employees.