Hope Ignites Northeastern Ohio

Analysis

Hope Ignites Northeastern Ohio is a registered charity in United States, based in Garfield HTS, OH. It received its IRS tax-exemption ruling in December 1979, 47 years ago. 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 June 2023, Hope Ignites Northeastern Ohio reported income of $3.3m and spending of $3.1m, spending 96% of its income. Across the 3 years on record, from June 2021 to June 2023, income grew from $3.0m to $3.3m (+10.0%), an average of +4.9% a year. The sharpest change came in the year to June 2023, when income rose by 47%. Over the whole period it spent 96% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Hope Ignites Northeastern Ohio sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 89th percentile within OH. Charities of a similar size with the same main cause include Harmony Community Healthcare Inc ($3.3m), Childrens Burn Foundation ($3.3m) and New York Urban League Inc ($3.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 97% of the total. Compensation of current officers, directors and key employees was $185k (5.9% of expenses). Other salaries and wages came to $935k. At year end it held assets of $13.4m against liabilities of $372k, net assets of $13.0m. It reported 24 employees.