Project Hope Food Bank Inc

Analysis

Project Hope Food Bank Inc is a registered charity in United States, based in Hot Springs, AR. It received its IRS tax-exemption ruling in October 2008, 18 years ago. Its declared purposes cover food, agriculture and nutrition, 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, Project Hope Food Bank Inc reported income of $1.4m and spending of $1.3m, spending 93% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $762k to $1.4m (+85%), an average of +17% a year. The sharpest change came in the year to December 2020, when income rose by 29%. 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, Project Hope Food Bank Inc sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 84th percentile within AR. Charities of a similar size with the same main cause include Womens & Childrens Crisis Shelter ($1.4m), Project Horizon Inc ($1.4m) and Ronald McDonald House Charities of South Dakota Inc ($1.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 41% and program service revenue 59% of the total. Compensation of current officers, directors and key employees was $31k (2.4% of expenses). Other salaries and wages came to $23k. At year end it held assets of $728k against liabilities of $51k, net assets of $677k. It reported 3 employees.