Point Hope Inc

Analysis

Point Hope Inc is a registered charity in United States, based in Richmond, TX. It received its IRS tax-exemption ruling in October 2005, 21 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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, Point Hope Inc reported income of $436k and spending of $415k, spending 95% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $679k to $436k (-36%), an average of -10% a year. The sharpest change came in the year to December 2020, when income dropped by 23%. Over the whole period it spent 101% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Point Hope Inc sits at the 65th percentile: it is larger than about 65% of them. Against every charity in United States with reported income it ranks in the 68th percentile, and in the 72nd percentile within TX. Charities of a similar size with the same main cause include Quitman County Development Organization Inc ($436k), Community Main Street Inc ($436k) and Interfaith Outreach of Carmel Inc ($436k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $48k (12% of expenses). Other salaries and wages came to $30k. At year end it held assets of $58k against liabilities of $58k, net assets of -$184. It reported 2 employees.