New Hope Inc

Analysis

New Hope Inc is a registered charity in United States, based in Attleboro, MA. It received its IRS tax-exemption ruling in January 1980, 46 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, New Hope Inc reported income of $4.6m and spending of $4.2m, spending 92% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $3.2m to $4.6m (+43%), an average of +9.4% a year. The sharpest change came in the year to June 2020, when income rose by 51%. Over the whole period it spent 87% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, New Hope Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 91st percentile within MA. Charities of a similar size with the same main cause include Bethany Childrens Home Inc ($4.6m), Single Stop USA Inc ($4.6m) and Progressive Residential Services of New Mexico Inc ($4.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 94% and program service revenue 4.8% of the total. Compensation of current officers, directors and key employees was $149k (3.5% of expenses). Other salaries and wages came to $2.6m. At year end it held assets of $5.8m against liabilities of $1.7m, net assets of $4.1m. It reported 97 employees.