Clean Socks Hope Inc

Analysis

Clean Socks Hope Inc is a registered charity in United States, based in New Albany, IN. It received its IRS tax-exemption ruling in December 2010, 16 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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, Clean Socks Hope Inc reported income of $225k and spending of $297k, spending 132% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $100k to $225k (+124%), an average of +22% a year. The sharpest change came in the year to December 2021, when income rose by 226%. Over the whole period it spent 88% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Clean Socks Hope Inc sits at the 40th percentile: it is larger than about 40% of them. Against every charity in United States with reported income it ranks in the 56th percentile, and in the 55th percentile within IN. Charities of a similar size with the same main cause include Bicentennial Apartments ($225k), Peyton Manor Inc ($225k) and Westfield Towers Inc ($225k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 3.8% and program service revenue 114% of the total. Other salaries and wages came to $192k. At year end it held assets of $13k against liabilities of $73k, net assets of -$59k. It reported 1 employees.