Hope Foundation

Analysis

Hope Foundation is a registered charity in United States, based in Paramus, NJ. It received its IRS tax-exemption ruling in November 2011, 15 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Hope Foundation reported income of $210k and spending of $326k, spending 155% of what it took in. Across the 3 years on record, from December 2021 to December 2023, income fell from $214k to $210k (-1.5%), an average of -0.7% a year. The sharpest change came in the year to December 2023, when income rose by 58%. Over the whole period it spent 93% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Hope Foundation sits at the 49th percentile: it is larger than about 49% of them. Against every charity in United States with reported income it ranks in the 55th percentile, and in the 62nd percentile within NJ. Charities of a similar size with the same main cause include Licking County Coalition of Care ($210k), Shepherd Care Inc ($210k) and Midland Baptist Crisis Center ($210k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 97% of the total. At year end it held assets of $312k against liabilities of $0, net assets of $312k.