Hope in the Mountains Inc

Analysis

Hope in the Mountains Inc is a registered charity in United States, based in Prestonsburg, KY. It received its IRS tax-exemption ruling in October 2005, 21 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 2024, Hope in the Mountains Inc reported income of $1.5m and spending of $1.2m, leaving 21% of income unspent that year. Across the 5 years on record, from June 2020 to June 2024, income grew from $1.0m to $1.5m (+48%), an average of +10% a year. The sharpest change came in the year to June 2021, when income rose by 46%. Over the whole period it spent 77% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Hope in the Mountains Inc sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 84th percentile within KY. Charities of a similar size with the same main cause include Steelbridge Ministries ($1.5m), The Apple Orchard ($1.5m) and Washington Area Womens Foundation Inc ($1.5m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 6.0% and program service revenue 89% of the total. Compensation of current officers, directors and key employees was $93k (7.9% of expenses). Other salaries and wages came to $601k. At year end it held assets of $2.8m against liabilities of $8,734, net assets of $2.8m. It reported 20 employees.