Beacon of Hope Inc

Analysis

Beacon of Hope Inc is a registered charity in United States, based in Hainesport, NJ. It received its IRS tax-exemption ruling in July 2014, 12 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, Beacon of Hope Inc reported income of $287k and spending of $431k, spending 150% of what it took in. Across the 3 years on record, from December 2021 to December 2023, income fell from $308k to $287k (-6.9%), an average of -3.5% a year. The sharpest change came in the year to December 2022, when income rose by 92%. Over the whole period it spent 108% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Beacon of Hope Inc sits at the 55th percentile: it is larger than about 55% of them. Against every charity in United States with reported income it ranks in the 61st percentile, and in the 67th percentile within NJ. Charities of a similar size with the same main cause include LTP Foundation Inc ($287k), Through Our Eyes Inc ($287k) and Care Net Pregnancy Center Ofnorthern New York ($287k).

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 $44k (10% of expenses). Other salaries and wages came to $22k. At year end it held assets of $29k against liabilities of $97k, net assets of -$68k. It reported 2 employees.