New Hope Ministries Inc

Analysis

New Hope Ministries Inc is a registered charity in United States, based in Abingdon, MD. It received its IRS tax-exemption ruling in August 2018, 8 years ago. Its declared purposes cover religion-related, which this site groups under religion. The IRS classifies it as a church under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, New Hope Ministries Inc reported income of $229k and spending of $216k, spending 94% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $180k to $229k (+27%), an average of +27% a year. The sharpest change came in the year to December 2023, when income rose by 27%. Over the whole period it spent 106% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, New Hope Ministries Inc sits at the 68th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 57th percentile, and in the 56th percentile within MD. Charities of a similar size with the same main cause include Unity Pentecostal Church of God Inc ($229k), San Ramon Valley Education Foundation ($229k) and Kingdom Mens Gathering Inc ($229k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 90% of the total. Compensation of current officers, directors and key employees was $24k (11% of expenses). At year end it held assets of $701k against liabilities of $416k, net assets of $285k. It reported 1 employees.