Hope Community Inc

Analysis

Hope Community Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in March 1981, 45 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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, Hope Community Inc reported income of $6.7m and spending of $9.6m, spending 143% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $6.1m to $6.7m (+10%), an average of +2.5% a year. The sharpest change came in the year to June 2021, when income rose by 48%. Over the whole period it spent 106% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Hope Community Inc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 91st percentile within NY. Charities of a similar size with the same main cause include Youngstown Neighborhood Development Corporation ($6.7m), Regency Management Inc ($6.7m) and Pines Village Retirement Communities Inc ($6.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 2.3% and program service revenue 97% of the total. Compensation of current officers, directors and key employees was $269k (2.8% of expenses). Other salaries and wages came to $4.5m. At year end it held assets of $49.3m against liabilities of $9.3m, net assets of $40.0m.