Hope Abounds Inc

Analysis

Hope Abounds Inc is a registered charity in United States, based in Wilmington, NC. It received its IRS tax-exemption ruling in March 2011, 15 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, Hope Abounds Inc reported income of $277k and spending of $284k, spending 103% of its income. Across the 3 years on record, from June 2022 to December 2023, income grew from $221k to $277k (+25%), an average of +12% a year. The sharpest change came in the year to December 2023, when income rose by 148%. Over the whole period it spent 96% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Hope Abounds Inc sits at the 55th percentile: it is larger than about 54% of them. Against every charity in United States with reported income it ranks in the 60th percentile, and in the 58th percentile within NC. Charities of a similar size with the same main cause include Joseph S Groh Foundation ($277k), The Strongsville Emergency Food Bank Inc ($277k) and Churchill Commons Housing Corporation ($277k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 69% of the total. Other salaries and wages came to $82k. At year end it held assets of $184k against liabilities of $97k, net assets of $88k. It reported 4 employees.