Beacon of Hope

Analysis

Beacon of Hope is a registered charity in United States, based in Holland, MI. It received its IRS tax-exemption ruling in October 2002, 24 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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 June 2024, Beacon of Hope reported income of $251k and spending of $255k, spending 101% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $204k to $251k (+23%), an average of +5.3% a year. The sharpest change came in the year to June 2021, when income rose by 30%. Over the whole period it spent 91% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Beacon of Hope sits at the 71st percentile: it is larger than about 71% of them. Against every charity in United States with reported income it ranks in the 58th percentile, and in the 58th percentile within MI. Charities of a similar size with the same main cause include Unto the Least of His Inc ($251k), Partner 10 15 Ministries ($251k) and Foresight For-Givers Foundation Inc ($251k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 108% of the total. Compensation of current officers, directors and key employees was $87k (34% of expenses). Other salaries and wages came to $107k. At year end it held assets of $261k against liabilities of $10k, net assets of $251k. It reported 6 employees.