Our Lady of Hope Residence

Analysis

Our Lady of Hope Residence is a registered charity in United States, based in Queens VLG, NY. It received its IRS tax-exemption ruling in March 1946, 80 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Our Lady of Hope Residence reported income of $103k and spending of $5,426, leaving 95% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $84k to $103k (+22%), an average of +5.2% a year. The sharpest change came in the year to December 2022, when income rose by 308%. Over the whole period it spent 3.7% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Our Lady of Hope Residence sits at the 28th percentile: it is larger than about 28% of them. Against every charity in United States with reported income it ranks in the 38th percentile, and in the 37th percentile within NY. Charities of a similar size with the same main cause include Goshen Cancer Foundation ($103k), Bessie Boley Foundation ($103k) and Mike Geltrude Foundation Inc ($103k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $5.5m against liabilities of $3.5m, net assets of $1.9m.