Hope and a Home-Inc

Analysis

Hope and a Home-Inc is a registered charity in United States, based in Washington, DC. It received its IRS tax-exemption ruling in August 2005, 21 years ago. 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 September 2023, Hope and a Home-Inc reported income of $1.3m and spending of $1.6m, spending 123% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $1.2m to $1.3m (+7.6%), an average of +1.8% a year. Over the whole period it spent 106% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Hope and a Home-Inc sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 59th percentile within DC. Charities of a similar size with the same main cause include Friends of the Levitt Pavilion Inc ($1.3m), We All Rise African American Resource Center Inc ($1.3m) and Pilgrim Senior Citizens Housing Development Corporation ($1.3m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 29% and program service revenue 71% of the total. Compensation of current officers, directors and key employees was $90k (5.8% of expenses). Other salaries and wages came to $410k. At year end it held assets of $2.2m against liabilities of $2.9m, net assets of -$633k. It reported 8 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.