Reasons for Hope

Analysis

Reasons for Hope is a registered charity in United States, based in Hebron, KY. It received its IRS tax-exemption ruling in December 2011, 15 years ago. 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, Reasons for Hope reported income of $1.2m and spending of $1.4m, spending 115% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $578k to $1.2m (+105%), an average of +20% a year. The sharpest change came in the year to December 2022, when income rose by 83%. Over the whole period it spent 91% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Reasons for Hope sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 82nd percentile within KY. Charities of a similar size with the same main cause include Union Bridge Volunteer Fire Co Inc ($1.2m), Grace L Woodward Memorial Endowment Trust ($1.2m) and NCCC Foundation Inc ($1.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 68% and program service revenue 14% of the total. Compensation of current officers, directors and key employees was $81k (5.9% of expenses). Other salaries and wages came to $389k. At year end it held assets of $1.4m against liabilities of $1.1m, net assets of $271k. It reported 14 employees.