New Foundation of Hope

Analysis

New Foundation of Hope is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in March 2003, 23 years ago. Its declared purposes cover youth development, which this site groups under children and youth development. 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, New Foundation of Hope reported income of $749k and spending of $751k, spending 100% of its income. Across the 3 years on record, from December 2019 to December 2023, income grew from $516k to $749k (+45%), an average of +21% a year. The sharpest change came in the year to December 2022, when income rose by 53%. Over the whole period it spent 100% of the income it received.

Among 14,332 United States charities whose main cause is children and youth development and that reported income, New Foundation of Hope sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 75th percentile within IL. Charities of a similar size with the same main cause include Turtle Athletic Foundation Inc ($749k), John W Hereford Boys and Girls Clubs of Huntington Inc ($749k) and Discovery Time Kids Early Learning Center ($748k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 31% and program service revenue 69% of the total. Other salaries and wages came to $97k. It paid $87k in professional fundraising fees. At year end it held assets of $19k against liabilities of $0, net assets of $19k. It reported 3 employees.