Hoops for Hope Inc

Analysis

Hoops for Hope Inc is a registered charity in United States, based in East Hampton, NY. It received its IRS tax-exemption ruling in July 1998, 28 years ago. Its declared purposes cover recreation and sports, which this site groups under amateur sport and recreation. 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, Hoops for Hope Inc reported income of $207k and spending of $218k, spending 105% of what it took in. Across the 6 years on record, from December 2018 to December 2023, income fell from $256k to $207k (-19%), an average of -4.2% a year. The sharpest change came in the year to December 2020, when income dropped by 56%. Over the whole period it spent 103% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Hoops for Hope Inc sits at the 69th percentile: it is larger than about 69% of them. Against every charity in United States with reported income it ranks in the 55th percentile, and in the 52nd percentile within NY. Charities of a similar size with the same main cause include Forsyth Central Touchdown Club Inc ($206k), PG and Lec Parent Club Inc ($207k) and Parkland Youth Softball Association Inc ($206k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% of the total. Other salaries and wages came to $29k. At year end it held assets of $63k against liabilities of $33k, net assets of $30k.