Shining Hope Farms

Analysis

Shining Hope Farms is a registered charity in United States, based in Mount Holly, NC. It received its IRS tax-exemption ruling in August 2002, 24 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, Shining Hope Farms reported income of $1.2m and spending of $1.3m, spending 108% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $751k to $1.2m (+56%), an average of +12% a year. The sharpest change came in the year to December 2021, when income rose by 58%. 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, Shining Hope Farms sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 82nd percentile within NC. Charities of a similar size with the same main cause include The Center Incorporated ($1.2m), Wise Area Relief Mission Inc ($1.2m) and Cookson Hills Family Ministries of Florida Inc ($1.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 53% and program service revenue 46% of the total. Compensation of current officers, directors and key employees was $28k (2.2% of expenses). Other salaries and wages came to $652k. At year end it held assets of $755k against liabilities of $245k, net assets of $509k. It reported 30 employees.