Hope Center Development Corporation

Analysis

Hope Center Development Corporation is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in February 2013, 13 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, Hope Center Development Corporation reported income of $1.1m and spending of $1.1m, spending 103% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $252k to $1.1m (+321%), an average of +43% a year. The sharpest change came in the year to December 2021, when income rose by 104%. Over the whole period it spent 96% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Hope Center Development Corporation sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 76th percentile within NY. Charities of a similar size with the same main cause include Childrens Center at Groton Inc ($1.1m), Family Crisis Center Inc ($1.1m) and The Transportation Association of Greenwich Inc ($1.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $44k (4.1% of expenses). At year end it held assets of $214k against liabilities of $145k, net assets of $69k. It reported 2 employees.