A New Hope Center Inc

Analysis

A New Hope Center Inc is a registered charity in United States, based in Owego, NY. It received its IRS tax-exemption ruling in October 1988, 38 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, A New Hope Center Inc reported income of $1.5m and spending of $1.5m, spending 96% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.2m to $1.5m (+24%), an average of +5.5% a year. The sharpest change came in the year to December 2023, when income rose by 20%. Over the whole period it spent 93% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, A New Hope Center 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 84th percentile, and in the 80th percentile within NY. Charities of a similar size with the same main cause include LA Casa Hogar ($1.5m), Prospera North Carolina LLC ($1.5m) and Edgefield County Senior Citizens Council Inc ($1.5m).

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 $99k (6.8% of expenses). Other salaries and wages came to $892k. At year end it held assets of $1.5m against liabilities of $395k, net assets of $1.1m. It reported 20 employees.