Reaching Hope

Analysis

Reaching Hope is a registered charity in United States, based in Thornton, CO. It received its IRS tax-exemption ruling in November 2013, 13 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 December 2023, Reaching Hope reported income of $1.0m and spending of $973k, spending 94% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $247k to $1.0m (+321%), an average of +43% a year. The sharpest change came in the year to December 2020, when income rose by 109%. Over the whole period it spent 94% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Reaching Hope sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 78th percentile within CO. Charities of a similar size with the same main cause include Stepping Stones Learning Center Inc ($1.0m), Manasota Solve Inc ($1.0m) and GSMBC Community Development Corporation ($1.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 63% and program service revenue 37% of the total. Compensation of current officers, directors and key employees was $105k (11% of expenses). Other salaries and wages came to $401k. At year end it held assets of $571k against liabilities of $331k, net assets of $240k. It reported 12 employees.