Hope Enterprises Inc

Analysis

Hope Enterprises Inc is a registered charity in United States, based in Williamsport, PA. It received its IRS tax-exemption ruling in April 1987, 39 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 June 2023, Hope Enterprises Inc reported income of $23.4m and spending of $22.3m, spending 95% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $28.2m to $23.4m (-17%), an average of -4.6% a year. 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, Hope Enterprises Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within PA. Charities of a similar size with the same main cause include Share Our Selves Corporation ($23.4m), Human Resources Agency of New Britain Inc ($23.4m) and Compass Family Services ($23.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 1.2% and program service revenue 97% of the total. Compensation of current officers, directors and key employees was $799k (3.6% of expenses). Other salaries and wages came to $12.6m. At year end it held assets of $23.8m against liabilities of $2.8m, net assets of $21.0m. It reported 402 employees.