Reason for Our Hope Foundation Inc

Analysis

Reason for Our Hope Foundation Inc is a registered charity in United States, based in Erie, PA. It received its IRS tax-exemption ruling in January 2007, 19 years ago. Its declared purposes cover religion-related, which this site groups under religion. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Reason for Our Hope Foundation Inc reported income of $495k and spending of $478k, spending 97% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $456k to $495k (+8.5%), an average of +2.1% a year. The sharpest change came in the year to December 2022, when income rose by 19%. Over the whole period it spent 96% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Reason for Our Hope Foundation Inc sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 68th percentile within PA. Charities of a similar size with the same main cause include Biblical Arts Center Miracle at Pentecost Foundation ($495k), NXT Move Inc ($495k) and Saturation Church Planting International Inc ($495k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 69% and program service revenue 25% of the total. Other salaries and wages came to $191k. At year end it held assets of $1.1m against liabilities of $0, net assets of $1.1m. It reported 4 employees.