Fostering Hope Inc

Analysis

Fostering Hope Inc is a registered charity in United States, based in Conway, SC. It received its IRS tax-exemption ruling in March 2005, 21 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 June 2023, Fostering Hope Inc reported income of $283k and spending of $94k, leaving 67% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $185k to $283k (+53%), an average of +11% a year. The sharpest change came in the year to June 2021, when income rose by 21%. Over the whole period it spent 36% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Fostering Hope Inc sits at the 55th percentile: it is larger than about 55% of them. Against every charity in United States with reported income it ranks in the 61st percentile, and in the 65th percentile within SC. Charities of a similar size with the same main cause include Valley Hope Counseling Center Incorporated ($283k), Mushayamunda Christian Development Foundation ($283k) and Families Helping Families ($283k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 88% of the total. Compensation of current officers, directors and key employees was $47k (50% of expenses). At year end it held assets of $1.1m against liabilities of $0, net assets of $1.1m.