The Ministry for Hope Inc

Analysis

The Ministry for Hope Inc is a registered charity in United States, based in PRT Jefferson, NY. It received its IRS tax-exemption ruling in August 1985, 41 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 March 2024, The Ministry for Hope Inc reported income of $5.6m and spending of $5.8m, spending 104% of its income. Across the 6 years on record, from March 2019 to March 2024, income grew from $4.6m to $5.6m (+20%), an average of +3.7% a year. The sharpest change came in the year to March 2020, when income rose by 32%. Over the whole period it spent 93% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, The Ministry for Hope Inc sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 90th percentile within NY. Charities of a similar size with the same main cause include Kidogo Early Years Inc ($5.6m), Gleaners of Clackamas County Incorporated ($5.6m) and Rural Nevada Development Corporation ($5.6m).

On its Form 990 for the period ending March 2024, revenue came from contributions and grants 89% of the total. Other salaries and wages came to $3.2m. At year end it held assets of $5.8m against liabilities of $440k, net assets of $5.4m. It reported 120 employees.