Circle of Hope Inc

Analysis

Circle of Hope Inc is a registered charity in United States, based in Needham, MA. It received its IRS tax-exemption ruling in June 2020, 6 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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 June 2023, Circle of Hope Inc reported income of $1.6m and spending of $1.4m, spending 91% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $917k to $1.6m (+70%), an average of +19% a year. The sharpest change came in the year to June 2021, when income rose by 29%. Over the whole period it spent 89% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Circle of Hope Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 83rd percentile within MA. Charities of a similar size with the same main cause include El Shaddai Dwxi-Prayer Partners Foundation International ($1.6m), Potters Ranch Inc ($1.6m) and Congressional Prayer Caucus Foundation Inc ($1.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 92% of the total. Other salaries and wages came to $234k. At year end it held assets of $1.2m against liabilities of $403k, net assets of $847k. It reported 7 employees.