Bright Hope Non-Profit Corporation

Analysis

Bright Hope Non-Profit Corporation is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in January 1984, 42 years ago. 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 April 2024, Bright Hope Non-Profit Corporation reported income of $1.5m and spending of $1.6m, spending 103% of its income. Across the 5 years on record, from April 2020 to April 2024, income grew from $1.4m to $1.5m (+7.2%), an average of +1.7% a year. Over the whole period it spent 106% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Bright Hope Non-Profit Corporation sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 82nd percentile within PA. Charities of a similar size with the same main cause include Aerospace Museum of California Foundation ($1.5m), Identity Inc ($1.5m) and New Horizons for Community Bound Individuals Inc ($1.5m).

On its Form 990 for the period ending April 2024, revenue came from program service revenue 100% of the total. Other salaries and wages came to $247k. At year end it held assets of $1.6m against liabilities of $3.6m, net assets of -$2.0m.

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.