House of Hope Community Development Corporation

Analysis

House of Hope Community Development Corporation is a registered charity in United States, based in Warwick, RI. It received its IRS tax-exemption ruling in April 1994, 32 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 2021, House of Hope Community Development Corporation reported income of $3.2m and spending of $3.3m, spending 105% of what it took in. Across the 2 years on record, from June 2019 to June 2021, income grew from $2.6m to $3.2m (+24%), an average of +24% a year. The sharpest change came in the year to June 2021, when income rose by 24%. Over the whole period it spent 104% 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 Community Development Corporation sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 86th percentile within RI. Charities of a similar size with the same main cause include Preservation Housing Partners ($3.2m), Habitat for Humanity International Inc ($3.2m) and New Hope Development Services Inc ($3.2m).

On its Form 990 for the period ending June 2021, revenue came from contributions and grants 88% and program service revenue 1.1% of the total. Other salaries and wages came to $1.6m. At year end it held assets of $6.2m against liabilities of $4.4m, net assets of $1.8m. It reported 30 employees.