Homes with Hope Inc

Analysis

Homes with Hope Inc is a registered charity in United States, based in Westport, CT. It received its IRS tax-exemption ruling in August 1984, 42 years ago. 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, Homes with Hope Inc reported income of $3.7m and spending of $3.5m, spending 93% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.9m to $3.7m (+30%), an average of +6.8% a year. Over the whole period it spent 90% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Homes with Hope Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 89th percentile within CT. Charities of a similar size with the same main cause include Home Sweet Home Ministries Inc ($3.7m), St Catherine Center for Special Needs Inc ($3.7m) and San Diego County Medical Society Foundation ($3.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 78% and program service revenue 9.2% of the total. Compensation of current officers, directors and key employees was $323k (9.3% of expenses). Other salaries and wages came to $1.1m. At year end it held assets of $6.0m against liabilities of $2.7m, net assets of $3.3m. It reported 33 employees.