Esperanza Inc

Analysis

Esperanza Inc is a registered charity in United States, based in Cleveland, OH. It received its IRS tax-exemption ruling in January 1984, 42 years ago. 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 September 2023, Esperanza Inc reported income of $3.7m and spending of $3.3m, spending 91% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $1.7m to $3.7m (+110%), an average of +20% a year. The sharpest change came in the year to September 2022, when income rose by 42%. Over the whole period it spent 92% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Esperanza Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 90th percentile within OH. Charities of a similar size with the same main cause include South Central Child Development Inc ($3.7m), Pride Live Inc ($3.7m) and Boy Scouts of America ($3.7m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 93% of the total. Compensation of current officers, directors and key employees was $169k (5.1% of expenses). Other salaries and wages came to $1.7m. At year end it held assets of $2.5m against liabilities of $446k, net assets of $2.1m. It reported 85 employees.