Faith Hope & Love Outreach Center Inc

Analysis

Faith Hope & Love Outreach Center Inc is a registered charity in United States, based in Detroit, MI. It received its IRS tax-exemption ruling in November 2005, 21 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Faith Hope & Love Outreach Center Inc reported income of $521k and spending of $1.3m, spending 258% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $507k to $521k (+2.7%), an average of +0.7% a year. The sharpest change came in the year to December 2021, when income rose by 119%. 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, Faith Hope & Love Outreach Center Inc sits at the 65th percentile: it is larger than about 65% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 71st percentile within MI. Charities of a similar size with the same main cause include Sanctuary Inc ($520k), Spectrum for Living Endownment Inc ($521k) and Sonata Housing Inc ($520k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $606k. At year end it held assets of $533k against liabilities of $536k, net assets of -$3,171. It reported 28 employees.