Hope Ignites Cincinnati

Analysis

Hope Ignites Cincinnati is a registered charity in United States, based in Cincinnati, OH. It received its IRS tax-exemption ruling in December 1979, 47 years ago. 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 2023, Hope Ignites Cincinnati reported income of $1.1m and spending of $1.1m, spending 106% of what it took in. Across the 3 years on record, from June 2021 to June 2023, income fell from $1.8m to $1.1m (-40%), an average of -23% a year. The sharpest change came in the year to June 2023, when income dropped by 55%. Over the whole period it spent 81% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Hope Ignites Cincinnati sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 80th percentile within OH. Charities of a similar size with the same main cause include Terre Haute Electrical Joint Apprenticeship and Training Trust ($1.1m), Montclair Foundation Inc ($1.1m) and Uss LST Ship Memorial Inc ($1.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 92% of the total. Compensation of current officers, directors and key employees was $112k (9.8% of expenses). Other salaries and wages came to $430k. At year end it held assets of $3.7m against liabilities of $117k, net assets of $3.6m. It reported 17 employees.