Pads to Hope Inc

Analysis

Pads to Hope Inc is a registered charity in United States, based in Palatine, IL. It received its IRS tax-exemption ruling in January 1995, 31 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, Pads to Hope Inc reported income of $3.8m and spending of $2.3m, leaving 41% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income fell from $4.3m to $3.8m (-11%), an average of -2.9% a year. The sharpest change came in the year to June 2023, when income rose by 52%. Over the whole period it spent 57% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Pads to Hope Inc sits at the 89th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 90th percentile within IL. Charities of a similar size with the same main cause include West Chester Food Cupboard ($3.8m), First Tennessee Development District Foundation ($3.8m) and Community Action Program Region VII Inc ($3.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 95% of the total. Compensation of current officers, directors and key employees was $112k (5.0% of expenses). Other salaries and wages came to $861k. At year end it held assets of $9.0m against liabilities of $941k, net assets of $8.0m. It reported 23 employees.