Hope Chest for Women Inc

Analysis

Hope Chest for Women Inc is a registered charity in United States, based in Asheville, NC. It received its IRS tax-exemption ruling in April 2003, 23 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 2022, Hope Chest for Women Inc reported income of $221k and spending of $232k, spending 105% of what it took in. Across the 3 years on record, from December 2019 to December 2022, income fell from $234k to $221k (-5.9%), an average of -3.0% a year. The sharpest change came in the year to December 2022, when income dropped by 15%. Over the whole period it spent 88% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Hope Chest for Women Inc sits at the 50th percentile: it is larger than about 50% of them. Against every charity in United States with reported income it ranks in the 56th percentile, and in the 54th percentile within NC. Charities of a similar size with the same main cause include Friends of Moreno Valley Senior Center ($221k), Grace Horizon Inc ($221k) and Re-Fined ($221k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 95% of the total. Compensation of current officers, directors and key employees was $52k (22% of expenses). Other salaries and wages came to $16k. At year end it held assets of $300k against liabilities of $31k, net assets of $269k. It reported 2 employees.