Community of Hope Ministries

Analysis

Community of Hope Ministries is a registered charity in United States, based in Garner, NC. It received its IRS tax-exemption ruling in January 2005, 21 years ago. Its declared purposes cover education, which this site groups under education and training. 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, Community of Hope Ministries reported income of $607k and spending of $526k, spending 87% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $348k to $607k (+74%), an average of +15% a year. The sharpest change came in the year to December 2023, when income rose by 34%. Over the whole period it spent 81% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Community of Hope Ministries 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 73rd percentile, and in the 73rd percentile within NC. Charities of a similar size with the same main cause include Jump Preschool Inc ($607k), Redemption Seminary Inc ($607k) and Operating Engineers Local Union No 3 Scholarship Foundation ($607k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 79% and program service revenue 20% of the total. Compensation of current officers, directors and key employees was $169k (32% of expenses). Other salaries and wages came to $93k. At year end it held assets of $759k against liabilities of $6,264, net assets of $753k. It reported 28 employees.