Heart of Hope Ministries

Analysis

Heart of Hope Ministries is a registered charity in United States, based in Rock Island, IL. It received its IRS tax-exemption ruling in July 2010, 16 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, Heart of Hope Ministries reported income of $734k and spending of $718k, spending 98% of its income. Across the 3 years on record, from December 2021 to December 2023, income grew from $134k to $734k (+449%), an average of +134% a year. The sharpest change came in the year to December 2023, when income rose by 155%. Over the whole period it spent 85% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Heart of Hope Ministries sits at the 71st percentile: it is larger than about 71% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 75th percentile within IL. Charities of a similar size with the same main cause include North Shore Workers Community Fund Inc ($734k), Molo Village CDC Co ($734k) and Tomchei Shabbos of Florida ($734k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% and program service revenue 0.3% of the total. Compensation of current officers, directors and key employees was $16k (2.2% of expenses). At year end it held assets of $515k against liabilities of $3,997, net assets of $511k. It reported 5 employees.