Hope Ignited Inc

Analysis

Hope Ignited Inc is a registered charity in United States, based in Argyle, TX. It received its IRS tax-exemption ruling in November 2003, 23 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, Hope Ignited Inc reported income of $1.1m and spending of $499k, leaving 54% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $561k to $1.1m (+94%), an average of +18% a year. The sharpest change came in the year to December 2021, when income rose by 109%. Over the whole period it spent 33% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Hope Ignited Inc sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 84th percentile within TX. Charities of a similar size with the same main cause include Human Services Council of New York ($1.1m), Shepherdstown Day Care Inc ($1.1m) and Core Community Center ($1.1m).

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 $104k (21% of expenses). Other salaries and wages came to $195k. At year end it held assets of $3.8m against liabilities of $0, net assets of $3.8m.