Raising Hope Inc

Analysis

Raising Hope Inc is a registered charity in United States, based in Providence, RI. It received its IRS tax-exemption ruling in June 2003, 23 years ago. Its declared purposes cover education, which this site groups under education and training. 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 December 2023, Raising Hope Inc reported income of $1.2m and spending of $1.2m, spending 99% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $479k to $1.2m (+153%), an average of +26% a year. The sharpest change came in the year to December 2020, when income rose by 72%. Over the whole period it spent 85% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Raising Hope Inc sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 77th percentile within RI. Charities of a similar size with the same main cause include The Spiral School Inc ($1.2m), SMFB Foundation ($1.2m) and California Homebuilding Foundation ($1.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 26% and program service revenue 74% of the total. Compensation of current officers, directors and key employees was $779k (65% of expenses). At year end it held assets of $541k against liabilities of $28k, net assets of $514k. It reported 56 employees.