Foundation of Hope Ministries Inc

Analysis

Foundation of Hope Ministries Inc is a registered charity in United States, based in Union Grove, NC. It received its IRS tax-exemption ruling in June 2022, 4 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, Foundation of Hope Ministries Inc reported income of $61k and spending of $41k, leaving 33% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $32k to $61k (+87%), an average of +87% a year. The sharpest change came in the year to December 2023, when income rose by 87%. Over the whole period it spent 71% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Foundation of Hope Ministries Inc sits at the 21st percentile: it is larger than about 21% of them. Against every charity in United States with reported income it ranks in the 24th percentile, and in the 22nd percentile within NC. Charities of a similar size with the same main cause include Daily News Cheer Fund Inc ($61k), Peopleinspired Giving Foundation Inc ($61k) and Christmas Wish Project of Tarrant County ($61k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $27k against liabilities of $0, net assets of $27k.