Heralds of Hope Inc

Analysis

Heralds of Hope Inc is a registered charity in United States, based in Harrisonville, PA. It received its IRS tax-exemption ruling in December 1967, 59 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, Heralds of Hope Inc reported income of $2.2m and spending of $1.9m, spending 88% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.4m to $2.2m (+55%), an average of +12% a year. The sharpest change came in the year to December 2020, when income rose by 52%. Over the whole period it spent 79% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Heralds of Hope Inc sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 85th percentile within PA. Charities of a similar size with the same main cause include Centerlight Health System Inc ($2.2m), The Center for Child Care and Development Inc ($2.2m) and Forest Hills Village Inc ($2.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% of the total. Compensation of current officers, directors and key employees was $80k (4.2% of expenses). Other salaries and wages came to $301k. At year end it held assets of $2.6m against liabilities of $134k, net assets of $2.5m. It reported 10 employees.