Greater Hopes Inc

Analysis

Greater Hopes Inc is a registered charity in United States, based in Wyoming, MI. It received its IRS tax-exemption ruling in October 1998, 28 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 December 2023, Greater Hopes Inc reported income of $404k and spending of $349k, spending 86% of its income. Across the 4 years on record, from December 2020 to December 2023, income grew from $219k to $404k (+84%), an average of +23% a year. The sharpest change came in the year to December 2021, when income rose by 32%. Over the whole period it spent 97% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Greater Hopes Inc sits at the 61st percentile: it is larger than about 61% of them. Against every charity in United States with reported income it ranks in the 67th percentile, and in the 67th percentile within MI. Charities of a similar size with the same main cause include Source Studio Inc ($404k), Oxbow Senior Independence Program Inc ($404k) and Rural Empowerment Association for Community Help ($404k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 1.7% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $106k (31% of expenses). Other salaries and wages came to $170k. At year end it held assets of $237k against liabilities of $111k, net assets of $126k. It reported 6 employees.