Hope of Glory Ministries Inc

Analysis

Hope of Glory Ministries Inc is a registered charity in United States, based in Greenville, NC. It received its IRS tax-exemption ruling in September 2001, 25 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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, Hope of Glory Ministries Inc reported income of $1.3m and spending of $930k, leaving 27% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $629k to $1.3m (+101%), an average of +19% a year. The sharpest change came in the year to December 2023, when income rose by 41%. Over the whole period it spent 84% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Hope of Glory Ministries Inc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 83rd percentile within NC. Charities of a similar size with the same main cause include LA Vida Inc ($1.3m), Restoration Place Ministries Inc ($1.3m) and International Gospel Outreach ($1.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 56% and program service revenue 44% of the total. Other salaries and wages came to $361k. At year end it held assets of $1.2m against liabilities of $23k, net assets of $1.1m. It reported 32 employees.