Lynn Hope Industries Inc

Analysis

Lynn Hope Industries Inc is a registered charity in United States, based in Holmesville, OH. It received its IRS tax-exemption ruling in December 1977, 49 years ago. Its declared purposes cover employment, which this site groups under community and economic development. 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, Lynn Hope Industries Inc reported income of $145k and spending of $308k, spending 213% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $552k to $145k (-74%), an average of -28% a year. The sharpest change came in the year to December 2023, when income dropped by 50%. Over the whole period it spent 116% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Lynn Hope Industries Inc sits at the 44th percentile: it is larger than about 44% of them. Against every charity in United States with reported income it ranks in the 46th percentile, and in the 47th percentile within OH. Charities of a similar size with the same main cause include Osceola Main Street Inc ($145k), Treasure Valley Partnership Inc ($145k) and National Association of Black Compliance and Risk Management Pro ($145k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 98% of the total. Compensation of current officers, directors and key employees was $78k (25% of expenses). Other salaries and wages came to $144k. At year end it held assets of $254k against liabilities of $3,389, net assets of $251k. It reported 30 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.