Hope Program Inc

Analysis

Hope Program Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in July 1985, 41 years ago. Its declared purposes cover employment, which this site groups under community and economic development. 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 Program Inc reported income of $8.6m and spending of $9.0m, spending 105% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $3.6m to $8.6m (+138%), an average of +24% a year. The sharpest change came in the year to June 2021, when income rose by 53%. Over the whole period it spent 95% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Hope Program Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 92nd percentile within NY. Charities of a similar size with the same main cause include Nevada Battle Born Growth Escalator Inc ($8.6m), Entrepreneurship for All Inc ($8.6m) and Providence of Maryland Inc ($8.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 98% of the total. Compensation of current officers, directors and key employees was $698k (7.8% of expenses). Other salaries and wages came to $4.6m. At year end it held assets of $7.1m against liabilities of $2.2m, net assets of $4.9m. It reported 283 employees.