Hopes Door Inc

Analysis

Hopes Door Inc is a registered charity in United States, based in Hawthorne, NY. It received its IRS tax-exemption ruling in March 1981, 45 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, Hopes Door Inc reported income of $3.4m and spending of $3.0m, spending 90% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.4m to $3.4m (+41%), an average of +9.0% a year. The sharpest change came in the year to June 2022, when income rose by 27%. Over the whole period it spent 92% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Hopes Door Inc sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 87th percentile within NY. Charities of a similar size with the same main cause include Veterans Health Foundation ($3.4m), Advisors Charitable Gift Fund Inc ($3.4m) and West Jersey Health System Workers Compensation TR ($3.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 79% and program service revenue 14% of the total. Compensation of current officers, directors and key employees was $237k (7.8% of expenses). At year end it held assets of $3.2m against liabilities of $411k, net assets of $2.8m. It reported 47 employees.