Hope Empowerment and Development Zone Incorporated

Analysis

Hope Empowerment and Development Zone Incorporated is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in July 2014, 12 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 Empowerment and Development Zone Incorporated reported income of $52k and spending of $70k, spending 134% of what it took in. Across the 3 years on record, from December 2021 to December 2023, income fell from $207k to $52k (-75%), an average of -50% a year. The sharpest change came in the year to December 2023, when income dropped by 51%. Over the whole period it spent 106% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Hope Empowerment and Development Zone Incorporated sits at the 21st percentile: it is larger than about 21% of them. Against every charity in United States with reported income it ranks in the 20th percentile, and in the 22nd percentile within NY. Charities of a similar size with the same main cause include Downtown Waltham Partnership ($52k), Celebration of a City Inc ($52k) and Womans Club of Rye Inc ($52k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $31k. At year end it held assets of $14k against liabilities of $21k, net assets of -$7,128. It reported 1 employees.