Hope Medical Clinic Inc

Analysis

Hope Medical Clinic Inc is a registered charity in United States, based in Ypsilanti, MI. It received its IRS tax-exemption ruling in January 1989, 37 years ago. The IRS classifies it as a hospital or medical research organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Hope Medical Clinic Inc reported income of $5.1m and spending of $5.4m, spending 106% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $4.7m to $5.1m (+7.3%), an average of +1.8% a year. The sharpest change came in the year to December 2021, when income rose by 21%. Over the whole period it spent 76% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Hope Medical Clinic Inc sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 92nd percentile within MI. Charities of a similar size with the same main cause include Congressional Sportsmens Foundation ($5.1m), Walker Residence Inc ($5.1m) and Volunteers of America Inc ($5.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 93% of the total. Compensation of current officers, directors and key employees was $113k (2.1% of expenses). Other salaries and wages came to $1.9m. It paid $36k in professional fundraising fees. At year end it held assets of $12.5m against liabilities of $168k, net assets of $12.3m. It reported 60 employees.