Hopes Place Inc

Analysis

Hopes Place Inc is a registered charity in United States, based in Ashland, KY. It received its IRS tax-exemption ruling in March 1997, 29 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, Hopes Place Inc reported income of $1.3m and spending of $1.2m, spending 96% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $813k to $1.3m (+57%), an average of +12% a year. The sharpest change came in the year to December 2020, when income rose by 24%. Over the whole period it spent 97% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Hopes Place Inc 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 82nd percentile, and in the 83rd percentile within KY. Charities of a similar size with the same main cause include Tiwahe Foundation ($1.3m), Friends of New Milford Inc ($1.3m) and Moore Youth & Family Services Inc ($1.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 95% of the total. Other salaries and wages came to $636k. At year end it held assets of $776k against liabilities of $169k, net assets of $608k. It reported 13 employees.