Hope Partnership Inc

Analysis

Hope Partnership Inc is a registered charity in United States, based in Madison, CT. It received its IRS tax-exemption ruling in February 2006, 20 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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 June 2023, Hope Partnership Inc reported income of $565k and spending of $740k, spending 131% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income grew from $558k to $565k (+1.3%), an average of +0.4% a year. The sharpest change came in the year to June 2021, when income rose by 746%. Over the whole period it spent 28% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Hope Partnership Inc sits at the 60th percentile: it is larger than about 60% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 70th percentile within CT. Charities of a similar size with the same main cause include Liberty Center of Sandusky County Inc ($565k), Basin Retirement Homes Association ($565k) and Wisconsin Veterans Village Association Inc ($565k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 22% and program service revenue 77% of the total. Compensation of current officers, directors and key employees was $73k (9.9% of expenses). Other salaries and wages came to $32k. At year end it held assets of $8.9m against liabilities of $1.6m, net assets of $7.3m. It reported 1 employees.