Foundation of Hope Inc

Analysis

Foundation of Hope Inc is a registered charity in United States, based in Pittsburgh, PA. It received its IRS tax-exemption ruling in November 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 December 2023, Foundation of Hope Inc reported income of $1.9m and spending of $2.1m, spending 111% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.3m to $1.9m (+47%), an average of +10% a year. The sharpest change came in the year to December 2023, when income rose by 61%. Over the whole period it spent 101% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Foundation of Hope Inc sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 84th percentile within PA. Charities of a similar size with the same main cause include Meals on Wheels of Boulder Inc ($1.9m), Camp Aranzazu Inc ($1.9m) and What About Remembering Me Center Inc ($1.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 54% and program service revenue 45% of the total. Compensation of current officers, directors and key employees was $79k (3.7% of expenses). At year end it held assets of $362k against liabilities of $81k, net assets of $281k. It reported 36 employees.