New Hope Initiative Inc

Analysis

New Hope Initiative Inc is a registered charity in United States, based in Kingwood, TX. It received its IRS tax-exemption ruling in March 2011, 15 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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, New Hope Initiative Inc reported income of $1.2m and spending of $1.6m, spending 130% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.3m to $1.2m (-3.3%), an average of -0.8% a year. The sharpest change came in the year to December 2021, when income dropped by 31%. Over the whole period it spent 94% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, New Hope Initiative Inc sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 85th percentile within TX. Charities of a similar size with the same main cause include Thielen Foundation Inc ($1.2m), Impact 100 Palm Beach County Inc ($1.2m) and Community Foundation of Jackson County ($1.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 96% of the total. Compensation of current officers, directors and key employees was $66k (4.1% of expenses). Other salaries and wages came to $49k. At year end it held assets of $144k against liabilities of $64, net assets of $144k. It reported 4 employees.