Ray of Hope Foundation Inc

Analysis

Ray of Hope Foundation Inc is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in October 1997, 29 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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, Ray of Hope Foundation Inc reported income of $145k and spending of $139k, spending 96% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $122k to $145k (+19%), an average of +19% a year. The sharpest change came in the year to December 2023, when income rose by 19%. Over the whole period it spent 86% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Ray of Hope Foundation Inc sits at the 51st percentile: it is larger than about 51% of them. Against every charity in United States with reported income it ranks in the 46th percentile, and in the 44th percentile within PA. Charities of a similar size with the same main cause include Ner Echad Inc ($145k), Mourning Sun Childrens Foundation ($145k) and New Berlin Lions Club Foundation Inc ($144k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 71% of the total. At year end it held assets of $123k against liabilities of $0, net assets of $123k.