Advent Hope Ventures Inc

Analysis

Advent Hope Ventures Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in January 2013, 13 years ago. Its declared purposes cover food, agriculture and nutrition, 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, Advent Hope Ventures Inc reported income of $226k and spending of $272k, spending 120% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income fell from $266k to $226k (-15%), an average of -15% a year. The sharpest change came in the year to December 2023, when income dropped by 15%. Over the whole period it spent 99% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Advent Hope Ventures Inc sits at the 51st percentile: it is larger than about 51% of them. Against every charity in United States with reported income it ranks in the 56th percentile, and in the 54th percentile within NY. Charities of a similar size with the same main cause include Unfi Assist Inc ($226k), Palama Muziq Inc ($226k) and Removing the Barriers Initiative Inc ($226k).

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 $30k (11% of expenses). Other salaries and wages came to $58k. At year end it held assets of $65k against liabilities of $0, net assets of $65k. It reported 1 employees.