Furnishing Hope Inc

Analysis

Furnishing Hope Inc is a registered charity in United States, based in Newport Beach, CA. It received its IRS tax-exemption ruling in November 2004, 22 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, Furnishing Hope Inc reported income of $703k and spending of $892k, spending 127% of what it took in. Across the 6 years on record, from December 2018 to December 2023, income fell from $1.7m to $703k (-60%), an average of -17% a year. The sharpest change came in the year to December 2021, when income rose by 275%. Over the whole period it spent 71% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Furnishing Hope Inc sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 76th percentile within CA. Charities of a similar size with the same main cause include Brinker Family Fund Inc ($703k), The Village Diaper Bank Inc ($703k) and Sanders County Council on Aging Inc ($703k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 55% of the total. Compensation of current officers, directors and key employees was $82k (9.2% of expenses). Other salaries and wages came to $228k. At year end it held assets of $3.3m against liabilities of $217k, net assets of $3.1m. It reported 6 employees.