Hopes Center of Racine Inc

Analysis

Hopes Center of Racine Inc is a registered charity in United States, based in Racine, WI. It received its IRS tax-exemption ruling in June 2020, 6 years ago. 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 August 2023, Hopes Center of Racine Inc reported income of $519k and spending of $506k, spending 98% of its income. Across the 5 years on record, from August 2019 to August 2023, income fell from $712k to $519k (-27%), an average of -7.6% a year. The sharpest change came in the year to August 2020, when income dropped by 23%. Over the whole period it spent 79% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Hopes Center of Racine Inc sits at the 69th percentile: it is larger than about 69% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 71st percentile within WI. Charities of a similar size with the same main cause include Little League Baseball Inc ($519k), Uva Community Health Foundation ($519k) and Wilson County Office of Senior Citizens Affairs Inc ($519k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 95% of the total. Compensation of current officers, directors and key employees was $84k (17% of expenses). Other salaries and wages came to $110k. At year end it held assets of $946k against liabilities of $44k, net assets of $902k. It reported 6 employees.