Ray of Hope Mentoring Inc

Analysis

Ray of Hope Mentoring Inc is a registered charity in United States, based in Seneca Falls, NY. It received its IRS tax-exemption ruling in October 2010, 16 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 2022, Ray of Hope Mentoring Inc reported income of $175k and spending of $140k, spending 80% of its income. Across the 3 years on record, from December 2020 to December 2022, income grew from $125k to $175k (+40%), an average of +18% a year. The sharpest change came in the year to December 2021, when income rose by 30%. Over the whole period it spent 84% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Ray of Hope Mentoring Inc sits at the 45th percentile: it is larger than about 45% of them. Against every charity in United States with reported income it ranks in the 51st percentile, and in the 48th percentile within NY. Charities of a similar size with the same main cause include C a R E Forward Inc ($175k), Pine Lake Community Club Inc ($175k) and St Anastasia St Mark Conference Society of St Vincent Depaul Inc ($175k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 96% and program service revenue 4.1% of the total. Compensation of current officers, directors and key employees was $5,900 (4.2% of expenses). Other salaries and wages came to $31k. At year end it held assets of $384k against liabilities of $70k, net assets of $314k. It reported 6 employees.