Elevate Hope Inc

Analysis

Elevate Hope Inc is a registered charity in United States, based in Beverly Hills, CA. It received its IRS tax-exemption ruling in March 2011, 15 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, Elevate Hope Inc reported income of $6.8m and spending of $6.6m, spending 98% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $613k to $6.8m (+1004%), an average of +82% a year. The sharpest change came in the year to December 2022, when income rose by 130%. Over the whole period it spent 97% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Elevate Hope Inc sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 94th percentile within CA. Charities of a similar size with the same main cause include Young Mens Christian Association of Lansing Mich ($6.8m), Hospitality Hub of Memphis ($6.8m) and Climb ($6.8m).

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 $111k (1.7% of expenses). Other salaries and wages came to $177k. At year end it held assets of $880k against liabilities of $145, net assets of $880k. It reported 9 employees.