Hope Ignites New York

Analysis

Hope Ignites New York is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in December 1979, 47 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 June 2023, Hope Ignites New York reported income of $1.7m and spending of $2.7m, spending 163% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $2.3m to $1.7m (-26%), an average of -7.4% a year. The sharpest change came in the year to June 2023, when income dropped by 44%. Over the whole period it spent 110% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Hope Ignites New York sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 81st percentile within NY. Charities of a similar size with the same main cause include Lifeword Broadcast Ministries ($1.7m), In2action ($1.7m) and Classical Music Institute Cmi ($1.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 91% of the total. Compensation of current officers, directors and key employees was $81k (3.0% of expenses). Other salaries and wages came to $1.3m. At year end it held assets of $1.0m against liabilities of $629k, net assets of $388k. It reported 24 employees.