Hope Ignites Detroit

Analysis

Hope Ignites Detroit is a registered charity in United States, based in Detroit, MI. It received its IRS tax-exemption ruling in December 1979, 47 years ago. 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, Hope Ignites Detroit reported income of $708k and spending of $994k, spending 140% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $998k to $708k (-29%), an average of -8.2% a year. The sharpest change came in the year to June 2021, when income dropped by 45%. Over the whole period it spent 95% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Hope Ignites Detroit sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 75th percentile within MI. Charities of a similar size with the same main cause include Little League Baseball Inc ($708k), Kraddick Foundation ($708k) and Culpeper Community Development Corporation ($708k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 97% of the total. Compensation of current officers, directors and key employees was $93k (9.4% of expenses). Other salaries and wages came to $430k. At year end it held assets of $1.1m against liabilities of $93k, net assets of $1.0m. It reported 17 employees.