Hope for Lagonave Inc

Analysis

Hope for Lagonave Inc is a registered charity in United States, based in Elm Springs, AR. It received its IRS tax-exemption ruling in August 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, Hope for Lagonave Inc reported income of $248k and spending of $333k, spending 134% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $283k to $248k (-12%), an average of -3.2% a year. The sharpest change came in the year to December 2020, when income dropped by 30%. Over the whole period it spent 122% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Hope for Lagonave Inc sits at the 52nd percentile: it is larger than about 52% of them. Against every charity in United States with reported income it ranks in the 58th percentile, and in the 59th percentile within AR. Charities of a similar size with the same main cause include Community Services Council Inc of Fort Madison Iowa ($248k), Project Hope of Columbus ($248k) and Hola Lakeway ($248k).

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 $54k (16% of expenses). Other salaries and wages came to $65k. At year end it held assets of $206k against liabilities of $2,093, net assets of $204k. It reported 3 employees.