Harbor of Hope Inc

Analysis

Harbor of Hope Inc is a registered charity in United States, based in Denton, TX. It received its IRS tax-exemption ruling in September 2017, 9 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, Harbor of Hope Inc reported income of $993k and spending of $1.0m, spending 102% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $858k to $993k (+16%), an average of +3.7% a year. 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, Harbor of Hope 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 79th percentile, and in the 83rd percentile within TX. Charities of a similar size with the same main cause include Edna Brooks Foundation Inc ($993k), Hope House of Miller County Inc ($993k) and Old City Presbyterian Apartments Inc ($993k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.8% and program service revenue 97% of the total. Compensation of current officers, directors and key employees was $81k (8.0% of expenses). Other salaries and wages came to $190k. At year end it held assets of $239k against liabilities of $103k, net assets of $136k. It reported 7 employees.