Community Hope Inc

Analysis

Community Hope Inc is a registered charity in United States, based in Parsippany, NJ. It received its IRS tax-exemption ruling in December 1985, 41 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, Community Hope Inc reported income of $13.3m and spending of $13.6m, spending 102% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $11.8m to $13.3m (+13%), an average of +3.0% a year. The sharpest change came in the year to June 2021, when income rose by 19%. Over the whole period it spent 102% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Community Hope Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 97th percentile within NJ. Charities of a similar size with the same main cause include British Home for Retired Men and Women ($13.3m), One Family Illinois ($13.3m) and Planning Council ($13.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 66% and program service revenue 34% of the total. Compensation of current officers, directors and key employees was $295k (2.2% of expenses). Other salaries and wages came to $6.2m. At year end it held assets of $7.8m against liabilities of $4.8m, net assets of $3.0m. It reported 195 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.