New Hope Community Inc

Analysis

New Hope Community Inc is a registered charity in United States, based in Loch Sheldrke, NY. It received its IRS tax-exemption ruling in May 1988, 38 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, New Hope Community Inc reported income of $62.5m and spending of $60.8m, spending 97% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $42.2m to $62.5m (+48%), an average of +10% a year. The sharpest change came in the year to December 2022, when income rose by 27%. Over the whole period it spent 95% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, New Hope Community Inc sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 98th percentile within NY. Charities of a similar size with the same main cause include Open Arms Care Corporation ($62.5m), Naval Continuing Care Retirement Foundation Inc ($62.7m) and Independent Living Association Inc ($62.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 5.1% and program service revenue 92% of the total. Compensation of current officers, directors and key employees was $1.2m (2.0% of expenses). Other salaries and wages came to $39.3m. At year end it held assets of $61.8m against liabilities of $13.7m, net assets of $48.1m. It reported 1,689 employees.