Hope of the World Inc

Analysis

Hope of the World Inc is a registered charity in United States, based in Lodi, NJ. It received its IRS tax-exemption ruling in June 1991, 35 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, Hope of the World Inc reported income of $5.8m and spending of $2.7m, leaving 53% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $3.5m to $5.8m (+68%), an average of +14% a year. The sharpest change came in the year to December 2020, when income rose by 40%. Over the whole period it spent 64% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Hope of the World Inc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 94th percentile within NJ. Charities of a similar size with the same main cause include Economic Development Corporation of Los Angeles ($5.8m), Winston School ($5.8m) and Milwaukee Public Museum Endowment F Und ($5.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 95% of the total. Compensation of current officers, directors and key employees was $763k (28% of expenses). At year end it held assets of $18.5m against liabilities of $1.3m, net assets of $17.2m. It reported 16 employees.