Generatehope Inc

Analysis

Generatehope Inc is a registered charity in United States, based in San Diego, CA. It received its IRS tax-exemption ruling in June 2009, 17 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, Generatehope Inc reported income of $1.9m and spending of $2.0m, spending 103% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.1m to $1.9m (+78%), an average of +16% a year. The sharpest change came in the year to December 2021, when income rose by 115%. Over the whole period it spent 80% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Generatehope Inc sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 86th percentile within CA. Charities of a similar size with the same main cause include Compass House ($1.9m), Hope Clinic Inc ($1.9m) and Jewish Family Services of Greater Orlando Inc ($1.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $180k (9.0% of expenses). Other salaries and wages came to $1.0m. At year end it held assets of $3.7m against liabilities of $115k, net assets of $3.6m. It reported 37 employees.