Hope Rescue Mission of the City of Reading Pa

Analysis

Hope Rescue Mission of the City of Reading Pa is a registered charity in United States, based in Reading, PA. It received its IRS tax-exemption ruling in January 1943, 83 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 Rescue Mission of the City of Reading Pa reported income of $3.7m and spending of $2.7m, leaving 27% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.2m to $3.7m (+68%), an average of +14% a year. The sharpest change came in the year to December 2022, when income rose by 60%. Over the whole period it spent 50% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Hope Rescue Mission of the City of Reading Pa 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 PA. Charities of a similar size with the same main cause include Maro Employment and Training Association ($3.7m), Chicago Volunteer Legal Services Foundation ($3.7m) and Central Texas Summit Christian School System Inc ($3.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 78% and program service revenue 15% of the total. Other salaries and wages came to $1.4m. At year end it held assets of $11.4m against liabilities of $152k, net assets of $11.2m. It reported 87 employees.