Project New Hope Inc

Analysis

Project New Hope Inc is a registered charity in United States, based in Worcester, MA. It received its IRS tax-exemption ruling in September 2011, 15 years ago. Its declared purposes cover public and societal benefit, which this site groups under other charitable 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, Project New Hope Inc reported income of $670k and spending of $649k, spending 97% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $303k to $670k (+121%), an average of +22% a year. The sharpest change came in the year to December 2022, when income rose by 73%. Over the whole period it spent 84% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Project New Hope Inc sits at the 73rd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 74th percentile within MA. Charities of a similar size with the same main cause include Good Neighbors Senior Center Association of Ocean Shores ($670k), Volunteers of America Inc ($670k) and Davids House ($670k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 95% of the total. Other salaries and wages came to $106k. At year end it held assets of $509k against liabilities of $6,300, net assets of $503k. It reported 11 employees.