H O P E Inc

Analysis

H O P E Inc is a registered charity in United States, based in New London, CT. It received its IRS tax-exemption ruling in June 1994, 32 years ago. 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 December 2023, H O P E Inc reported income of $255k and spending of $214k, spending 84% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $177k to $255k (+44%), an average of +9.5% a year. The sharpest change came in the year to December 2020, when income dropped by 532%. Over the whole period it spent 940% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, H O P E Inc sits at the 57th percentile: it is larger than about 57% of them. Against every charity in United States with reported income it ranks in the 59th percentile, and in the 56th percentile within CT. Charities of a similar size with the same main cause include Cheyenne Kiwanis Club Foundation ($255k), Epic Academy ($255k) and Elizabeth Pace Charitable Fund ($255k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 167% and program service revenue 27% of the total. Compensation of current officers, directors and key employees was $88k (41% of expenses). At year end it held assets of $2.3m against liabilities of $18k, net assets of $2.2m. It reported 2 employees.