Life of Hope

Analysis

Life of Hope is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in December 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 June 2023, Life of Hope reported income of $527k and spending of $581k, spending 110% of what it took in. Across the 2 years on record, from June 2022 to June 2023, income fell from $530k to $527k (-0.6%), an average of -0.6% a year. Over the whole period it spent 91% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Life of Hope sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 67th percentile within NY. Charities of a similar size with the same main cause include True Ridge ($527k), Lincoln County Agricultural Society ($527k) and Center for Parent-Youth Understanding ($527k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $67k (12% of expenses). Other salaries and wages came to $160k. At year end it held assets of $124k against liabilities of $24k, net assets of $101k. It reported 14 employees.