Hyundai Hope on Wheels

Analysis

Hyundai Hope on Wheels is a registered charity in United States, based in Fountain Vly, CA. It received its IRS tax-exemption ruling in March 2008, 18 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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, Hyundai Hope on Wheels reported income of $27.4m and spending of $21.5m, leaving 22% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $15.6m to $27.4m (+76%), an average of +15% a year. The sharpest change came in the year to December 2023, when income rose by 52%. Over the whole period it spent 92% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Hyundai Hope on Wheels sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within CA. Charities of a similar size with the same main cause include Opencollective Foundation ($27.4m), Foundation for Jewish Philanthropies ($27.5m) and Rofeh Cholim Cancer Society Inc ($27.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $115k (0.5% of expenses). At year end it held assets of $20.0m against liabilities of $3.9m, net assets of $16.2m. It reported 1 employees.