Valley of Hope Shelter and Recovery Inc

Analysis

Valley of Hope Shelter and Recovery Inc is a registered charity in United States, based in Lawrence, MA. It received its IRS tax-exemption ruling in August 1972, 54 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 June 2023, Valley of Hope Shelter and Recovery Inc reported income of $3.4m and spending of $3.2m, spending 92% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.3m to $3.4m (+47%), an average of +10% a year. The sharpest change came in the year to June 2022, when income rose by 25%. Over the whole period it spent 84% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Valley of Hope Shelter and Recovery Inc sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 89th percentile within MA. Charities of a similar size with the same main cause include Archaeology Southwest ($3.4m), William a and Margaretta Taylor Memorial Association ($3.4m) and Wave Aquatics ($3.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 6.5% and program service revenue 93% of the total. Compensation of current officers, directors and key employees was $128k (4.0% of expenses). Other salaries and wages came to $1.4m. At year end it held assets of $2.3m against liabilities of $809k, net assets of $1.5m. It reported 51 employees.