Hope-Net Ministries Inc

Analysis

Hope-Net Ministries Inc is a registered charity in United States, based in Council BLFS, IA. It received its IRS tax-exemption ruling in December 2007, 19 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, Hope-Net Ministries Inc reported income of $191k and spending of $185k, spending 97% of its income. Across the 3 years on record, from December 2021 to December 2023, income grew from $177k to $191k (+7.5%), an average of +3.7% a year. The sharpest change came in the year to December 2022, when income rose by 19%. Over the whole period it spent 83% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Hope-Net Ministries Inc sits at the 47th percentile: it is larger than about 47% of them. Against every charity in United States with reported income it ranks in the 53rd percentile, and in the 54th percentile within IA. Charities of a similar size with the same main cause include Community Access Naperville Inc ($191k), Mind Body Solutions ($191k) and Community Impact Corporation ($190k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 16% of the total. Other salaries and wages came to $83k. At year end it held assets of $186k against liabilities of $9,508, net assets of $177k. It reported 6 employees.