Sole Hope Inc

Analysis

Sole Hope Inc is a registered charity in United States, based in Mount Juliet, TN. It received its IRS tax-exemption ruling in November 2011, 15 years ago. Its declared purposes cover international, foreign affairs and national security, which this site groups under overseas aid and international. 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, Sole Hope Inc reported income of $670k and spending of $579k, spending 86% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $814k to $670k (-18%), an average of -4.8% a year. The sharpest change came in the year to December 2023, when income rose by 57%. Over the whole period it spent 98% of the income it received.

Among 10,317 United States charities whose main cause is overseas aid and international and that reported income, Sole Hope Inc sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 76th percentile within TN. Charities of a similar size with the same main cause include Luke Medical Ministry ($670k), Posner Center for International Development ($670k) and The House of Stephanas ($670k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% of the total. Compensation of current officers, directors and key employees was $30k (5.2% of expenses). Other salaries and wages came to $191k. At year end it held assets of $1.4m against liabilities of $71k, net assets of $1.3m. It reported 4 employees.