New Hope Community Capital Inc

Analysis

New Hope Community Capital Inc is a registered charity in United States, based in Boston, MA. It received its IRS tax-exemption ruling in August 2014, 12 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, New Hope Community Capital Inc reported income of $7.4m and spending of $6.5m, spending 87% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $22.7m to $7.4m (-67%), an average of -24% a year. The sharpest change came in the year to December 2020, when income dropped by 77%. Over the whole period it spent 88% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, New Hope Community Capital Inc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 93rd percentile within MA. Charities of a similar size with the same main cause include People Incorporated Housing Group ($7.4m), Sheltercare ($7.4m) and East County Transitional Living Center Inc ($7.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 13% and program service revenue 37% of the total. At year end it held assets of $62.2m against liabilities of $51.7m, net assets of $10.5m.