Hoping Hearts Foundation Inc

Analysis

Hoping Hearts Foundation Inc is a registered charity in United States, based in Springboro, OH. It received its IRS tax-exemption ruling in October 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, Hoping Hearts Foundation Inc reported income of $3.4m and spending of $3.1m, spending 93% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $4.3m to $3.4m (-22%), an average of -6.0% a year. The sharpest change came in the year to December 2020, when income dropped by 23%. Over the whole period it spent 91% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Hoping Hearts Foundation Inc sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 90th percentile within OH. Charities of a similar size with the same main cause include Asian Pacific Development Center of Colorado ($3.4m), Voces de LA Frontera Inc ($3.4m) and Raphael House of San Francisco Inc ($3.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 92% of the total. Compensation of current officers, directors and key employees was $60k (1.9% of expenses). Other salaries and wages came to $102k. At year end it held assets of $4.3m against liabilities of $9,078, net assets of $4.3m. It reported 4 employees.