Hopeworx Inc

Analysis

Hopeworx Inc is a registered charity in United States, based in Norristown, PA. It received its IRS tax-exemption ruling in November 1995, 31 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. 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 June 2023, Hopeworx Inc reported income of $1.8m and spending of $1.7m, spending 97% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $853k to $1.8m (+110%), an average of +20% a year. The sharpest change came in the year to June 2022, when income rose by 83%. Over the whole period it spent 98% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Hopeworx Inc sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 83rd percentile within PA. Charities of a similar size with the same main cause include Fair Play Camp School Inc ($1.8m), St Vincents Foundation Inc ($1.8m) and Chattahoochee Valley Hospital Society ($1.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 97% and program service revenue 1.0% of the total. Compensation of current officers, directors and key employees was $85k (4.9% of expenses). Other salaries and wages came to $1.0m. At year end it held assets of $698k against liabilities of $501k, net assets of $197k. It reported 42 employees.