Hope Community Development

Analysis

Hope Community Development is a registered charity in United States, based in Hartford, CT. It received its IRS tax-exemption ruling in April 2003, 23 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2022, Hope Community Development reported income of $208k and spending of $263k, spending 126% of what it took in. Across the 3 years on record, from December 2019 to December 2022, income fell from $223k to $208k (-6.5%), an average of -3.3% a year. The sharpest change came in the year to December 2022, when income dropped by 21%. Over the whole period it spent 101% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Hope Community Development sits at the 49th percentile: it is larger than about 49% of them. Against every charity in United States with reported income it ranks in the 55th percentile, and in the 52nd percentile within CT. Charities of a similar size with the same main cause include Park County Senior Coalition ($208k), Global Disaster Relief Team ($208k) and Adoption Information & Counseling Services Inc ($208k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 5.5% and program service revenue 94% of the total. Compensation of current officers, directors and key employees was $84k (32% of expenses). Other salaries and wages came to $130k. At year end it held assets of $15k against liabilities of $25k, net assets of -$10k. It reported 19 employees.