Hope Chest Scholarship Foundation

Analysis

Hope Chest Scholarship Foundation is a registered charity in United States, based in Morristown, NJ. It received its IRS tax-exemption ruling in November 2012, 14 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Hope Chest Scholarship Foundation reported income of $140k and spending of $45k, leaving 68% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $108k to $140k (+30%), an average of +6.8% a year. The sharpest change came in the year to December 2021, when income rose by 37%. Over the whole period it spent 54% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Hope Chest Scholarship Foundation sits at the 47th percentile: it is larger than about 47% of them. Against every charity in United States with reported income it ranks in the 45th percentile, and in the 53rd percentile within NJ. Charities of a similar size with the same main cause include 100 West Foundation ($140k), Oregon Association of Realtors Home Foundation ($140k) and Santiago High School Footballbooster Club ($140k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 44% of the total. At year end it held assets of $331k against liabilities of $0, net assets of $331k.