Hopes Wings Inc

Analysis

Hopes Wings Inc is a registered charity in United States, based in Richmond, KY. It received its IRS tax-exemption ruling in April 2006, 20 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 June 2023, Hopes Wings Inc reported income of $502k and spending of $491k, spending 98% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $522k to $502k (-3.8%), an average of -1.0% a year. The sharpest change came in the year to June 2021, when income dropped by 43%. Over the whole period it spent 80% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Hopes Wings Inc sits at the 65th percentile: it is larger than about 65% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 71st percentile within KY. Charities of a similar size with the same main cause include Northern Hills Alliance for Children ($502k), Lil Troopers Learning Center ($503k) and One Starfish ($502k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 87% of the total. Other salaries and wages came to $218k. At year end it held assets of $1.2m against liabilities of $0, net assets of $1.2m. It reported 13 employees.