Texas Foundation of Hope Inc

Analysis

Texas Foundation of Hope Inc is a registered charity in United States, based in San Antonio, TX. It received its IRS tax-exemption ruling in August 2014, 12 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending July 2023, Texas Foundation of Hope Inc reported income of $432k and spending of $613k, spending 142% of what it took in. Across the 5 years on record, from July 2019 to July 2023, income grew from $336k to $432k (+29%), an average of +6.5% a year. The sharpest change came in the year to July 2022, when income rose by 79%. Over the whole period it spent 126% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Texas Foundation of Hope Inc sits at the 62nd percentile: it is larger than about 62% of them. Against every charity in United States with reported income it ranks in the 68th percentile, and in the 72nd percentile within TX. Charities of a similar size with the same main cause include Globel Foster Care ($432k), Readiness Center Inc ($432k) and Responsible Gaming Association of New Mexico ($432k).

On its Form 990 for the period ending July 2023, revenue came from contributions and grants 7.5% and program service revenue 70% of the total. Compensation of current officers, directors and key employees was $78k (13% of expenses). Other salaries and wages came to $112k. At year end it held assets of $31k against liabilities of $502k, net assets of -$470k. It reported 4 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.