Hope of Buffalo Inc

Analysis

Hope of Buffalo Inc is a registered charity in United States, based in Buffalo, NY. It received its IRS tax-exemption ruling in August 1978, 48 years ago. 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, Hope of Buffalo Inc reported income of $2.6m and spending of $2.4m, spending 93% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $768k to $2.6m (+236%), an average of +35% a year. The sharpest change came in the year to December 2020, when income rose by 57%. Over the whole period it spent 99% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Hope of Buffalo Inc sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 85th percentile within NY. Charities of a similar size with the same main cause include Pursuit of Excellence ($2.6m), Stateline Boys & Girls Clubs Inc ($2.6m) and Pelican Institute for Public Policy ($2.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 95% and program service revenue 4.1% of the total. Compensation of current officers, directors and key employees was $129k (5.4% of expenses). Other salaries and wages came to $1.3m. At year end it held assets of $2.8m against liabilities of $581k, net assets of $2.2m.