Hope Homes Foundation Inc

Analysis

Hope Homes Foundation Inc is a registered charity in United States, based in Stow, OH. It received its IRS tax-exemption ruling in March 1984, 42 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, Hope Homes Foundation Inc reported income of $1.4m and spending of $506k, leaving 63% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $567k to $1.4m (+142%), an average of +25% a year. The sharpest change came in the year to December 2020, when income rose by 127%. Over the whole period it spent 43% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Hope Homes Foundation Inc sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 83rd percentile within OH. Charities of a similar size with the same main cause include Meals on Wheels of Asheville and Buncombe County Inc ($1.4m), Auglaize County Agricultural Society Inc ($1.4m) and Circle Urban Ministries ($1.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 54% and program service revenue 29% of the total. Compensation of current officers, directors and key employees was $106k (21% of expenses). Other salaries and wages came to $67k. At year end it held assets of $5.0m against liabilities of $59k, net assets of $5.0m. It reported 5 employees.