Seeds of Hope Ministries Inc

Analysis

Seeds of Hope Ministries Inc is a registered charity in United States, based in Camden, NJ. It received its IRS tax-exemption ruling in July 2014, 12 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Seeds of Hope Ministries Inc reported income of $560k and spending of $433k, leaving 23% of income unspent that year. Across the 6 years on record, from December 2018 to December 2023, income grew from $449k to $560k (+25%), an average of +4.5% a year. The sharpest change came in the year to December 2020, when income rose by 34%. Over the whole period it spent 77% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Seeds of Hope Ministries Inc sits at the 67th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 76th percentile within NJ. Charities of a similar size with the same main cause include Garden of Hope Inc ($560k), Paradise Bound Thrift Shoppe ($560k) and Independence Empowerment Center Inc ($560k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $77k (18% of expenses). Other salaries and wages came to $92k. At year end it held assets of $1.1m against liabilities of $8,424, net assets of $1.1m. It reported 5 employees.