Pesach Tikvah-Hope Development Inc

Analysis

Pesach Tikvah-Hope Development Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in June 1987, 39 years ago. 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 June 2023, Pesach Tikvah-Hope Development Inc reported income of $20.6m and spending of $21.3m, spending 103% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $13.4m to $20.6m (+54%), an average of +11% a year. The sharpest change came in the year to June 2021, when income rose by 29%. Over the whole period it spent 98% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Pesach Tikvah-Hope Development Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 96th percentile within NY. Charities of a similar size with the same main cause include Service Corps of Retired Executives Association ($20.6m), Food for Lane County ($20.6m) and Dr Miriam and Sheldon G Adelson Educational Institute ($20.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 20% and program service revenue 77% of the total. Compensation of current officers, directors and key employees was $1.5m (7.2% of expenses). Other salaries and wages came to $14.7m. At year end it held assets of $17.2m against liabilities of $13.6m, net assets of $3.6m. It reported 528 employees.