Scarlet Hope Inc

Analysis

Scarlet Hope Inc is a registered charity in United States, based in Louisville, KY. It received its IRS tax-exemption ruling in May 2017, 9 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 June 2023, Scarlet Hope Inc reported income of $1.5m and spending of $1.4m, spending 93% of its income. Across the 5 years on record, from December 2019 to June 2023, income fell from $1.5m to $1.5m (-1.4%), an average of -0.3% a year. The sharpest change came in the year to June 2023, when income rose by 340%. Over the whole period it spent 107% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Scarlet Hope Inc sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 84th percentile within KY. Charities of a similar size with the same main cause include Carolina Community Impact Inc ($1.5m), Rebuilding Together Miami-Dade Inc ($1.5m) and Weston Wing Inc ($1.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 99% and program service revenue 1.4% of the total. Other salaries and wages came to $586k. At year end it held assets of $866k against liabilities of $186k, net assets of $680k. It reported 25 employees.