Hope-Spectrum Health CC

Analysis

Hope-Spectrum Health CC is a registered charity in United States, based in Grand Rapids, MI. It received its IRS tax-exemption ruling in February 2011, 15 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Hope-Spectrum Health CC reported income of $7.7m and spending of $5.2m, leaving 32% of income unspent that year. Across the 5 years on record, from September 2019 to September 2023, income grew from $7.0m to $7.7m (+9.2%), an average of +2.2% a year. The sharpest change came in the year to September 2023, when income rose by 51%. Over the whole period it spent 96% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Hope-Spectrum Health CC sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 94th percentile within MI. Charities of a similar size with the same main cause include Magnolia Manor of St Simons Inc ($7.7m), Futures Through Choices Inc ($7.7m) and Beyond Shelter Inc ($7.7m).

On its Form 990 for the period ending September 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $2.9m. At year end it held assets of $9.1m against liabilities of $1.1m, net assets of $8.0m. It reported 176 employees.