Hope for New York

Analysis

Hope for New York is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in July 1993, 33 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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 for New York reported income of $4.8m and spending of $5.2m, spending 107% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $4.6m to $4.8m (+3.7%), an average of +0.9% a year. Over the whole period it spent 100% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Hope for New York sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 89th percentile within NY. Charities of a similar size with the same main cause include United Way of Broome County Inc ($4.8m), Lake County Community Foundation ($4.8m) and United Way of Northern Nevada and the Sierra ($4.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 94% of the total. Compensation of current officers, directors and key employees was $269k (5.2% of expenses). Other salaries and wages came to $842k. At year end it held assets of $5.2m against liabilities of $995k, net assets of $4.2m. It reported 16 employees.