Hope Loves Company Inc

Analysis

Hope Loves Company Inc is a registered charity in United States, based in Pennington, NJ. It received its IRS tax-exemption ruling in October 2012, 14 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 Loves Company Inc reported income of $480k and spending of $483k, spending 101% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $370k to $480k (+30%), an average of +6.7% a year. The sharpest change came in the year to December 2022, when income rose by 31%. Over the whole period it spent 92% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Hope Loves Company Inc sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 74th percentile within NJ. Charities of a similar size with the same main cause include Alpha Community Foundation of Okla ($480k), Deland Receiving Home Inc ($480k) and Troy Resilience Project ($480k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $100k (21% of expenses). Other salaries and wages came to $137k. At year end it held assets of $412k against liabilities of $27k, net assets of $386k. It reported 7 employees.