Meals of Hope Inc

Analysis

Meals of Hope Inc is a registered charity in United States, based in Naples, FL. It received its IRS tax-exemption ruling in July 2010, 16 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, Meals of Hope Inc reported income of $12.5m and spending of $12.0m, spending 96% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $6.2m to $12.5m (+100%), an average of +19% a year. The sharpest change came in the year to December 2020, when income rose by 81%. Over the whole period it spent 98% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Meals of Hope Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within FL. Charities of a similar size with the same main cause include Westside Future Fund ($12.5m), Millard Public Schools Foundation Inc ($12.5m) and Bay Area Rescue Mission ($12.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 63% and program service revenue 35% of the total. Compensation of current officers, directors and key employees was $342k (2.9% of expenses). Other salaries and wages came to $815k. At year end it held assets of $6.1m against liabilities of $4.3m, net assets of $1.8m. It reported 24 employees.