Knox New Hope Industries Inc

Analysis

Knox New Hope Industries Inc is a registered charity in United States, based in Mount Vernon, OH. It received its IRS tax-exemption ruling in May 1982, 44 years ago. Its declared purposes cover employment, which this site groups under community and economic development. 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 2023, Knox New Hope Industries Inc reported income of $859k and spending of $1.0m, spending 120% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.7m to $859k (-48%), an average of -15% a year. The sharpest change came in the year to December 2021, when income dropped by 33%. Over the whole period it spent 89% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Knox New Hope Industries Inc sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 78th percentile within OH. Charities of a similar size with the same main cause include Neighborhood Preservation Inc ($859k), Citizens Opportunity for Development & Equality Inc ($859k) and Unshattered Inc ($859k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 6.5% and program service revenue 94% of the total. Compensation of current officers, directors and key employees was $117k (11% of expenses). Other salaries and wages came to $479k. At year end it held assets of $2.2m against liabilities of $279k, net assets of $2.0m. It reported 60 employees.