Sowhope Org

Analysis

Sowhope Org is a registered charity in United States, based in Rockford, MI. It received its IRS tax-exemption ruling in October 2006, 20 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 December 2023, Sowhope Org reported income of $479k and spending of $667k, spending 139% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $418k to $479k (+15%), an average of +3.5% a year. The sharpest change came in the year to December 2021, when income rose by 19%. Over the whole period it spent 95% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Sowhope Org sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 70th percentile within MI. Charities of a similar size with the same main cause include Better Choices Inc ($479k), Mothers Home Inc ($479k) and Korea Town Senior and Community Center Inc ($479k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $85k (13% of expenses). Other salaries and wages came to $53k. At year end it held assets of $477k against liabilities of $27k, net assets of $450k. It reported 2 employees.