House of Hope Inc

Analysis

House of Hope Inc is a registered charity in United States, based in Lowell, MA. It received its IRS tax-exemption ruling in October 1985, 41 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 June 2024, House of Hope Inc reported income of $5.1m and spending of $4.5m, spending 88% of its income. Across the 6 years on record, from June 2019 to June 2024, income grew from $4.5m to $5.1m (+13%), an average of +2.4% a year. The sharpest change came in the year to June 2023, when income rose by 18%. Over the whole period it spent 87% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, House of Hope Inc sits at the 91st percentile: it is larger than about 91% 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 FMH Foundation ($5.1m), Warm Hearth Inc ($5.1m) and On the Rise Inc ($5.1m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 11% and program service revenue 85% of the total. Compensation of current officers, directors and key employees was $184k (4.1% of expenses). Other salaries and wages came to $2.6m. At year end it held assets of $11.9m against liabilities of $3.8m, net assets of $8.1m. It reported 81 employees.