Permian Basin Gifts of Hope Inc

Analysis

Permian Basin Gifts of Hope Inc is a registered charity in United States, based in Midland, TX. It received its IRS tax-exemption ruling in January 2005, 21 years ago. Its declared purposes cover diseases, disorders and medical disciplines, which this site groups under health and saving lives. 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 2022, Permian Basin Gifts of Hope Inc reported income of $627k and spending of $369k, leaving 41% of income unspent that year. Across the 4 years on record, from December 2019 to December 2022, income grew from $337k to $627k (+86%), an average of +23% a year. The sharpest change came in the year to December 2021, when income rose by 133%. Over the whole period it spent 78% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Permian Basin Gifts of Hope Inc sits at the 58th percentile: it is larger than about 58% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 78th percentile within TX. Charities of a similar size with the same main cause include Brain Injury Network of Dallas ($627k), Me Squared Cancer Foundation ($628k) and Bridge Breast Center Inc ($627k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 59% of the total. Compensation of current officers, directors and key employees was $70k (19% of expenses). Other salaries and wages came to $55k. At year end it held assets of $1.1m against liabilities of $0, net assets of $1.1m.