Wells of Hope

Analysis

Wells of Hope is a registered charity in United States, based in Tomball, TX. It received its IRS tax-exemption ruling in August 2007, 19 years ago. Its declared purposes cover international, foreign affairs and national security, which this site groups under overseas aid and international. 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, Wells of Hope reported income of $53k and spending of $111k, spending 209% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income fell from $140k to $53k (-62%), an average of -62% a year. The sharpest change came in the year to December 2023, when income dropped by 62%. Over the whole period it spent 111% of the income it received.

Among 10,317 United States charities whose main cause is overseas aid and international and that reported income, Wells of Hope sits at the 19th percentile: it is larger than about 19% of them. Against every charity in United States with reported income it ranks in the 21st percentile, and in the 21st percentile within TX. Charities of a similar size with the same main cause include Encompass TR a Nonprofit Corporation ($53k), Window of Hope ($53k) and Mica Inc ($53k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $60k against liabilities of $0, net assets of $60k.