Hope Network

Analysis

Hope Network 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 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 September 2023, Hope Network reported income of $12.0m and spending of $19.1m, spending 159% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income fell from $13.2m to $12.0m (-8.9%), an average of -2.3% a year. Over the whole period it spent 173% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Hope Network sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within MI. Charities of a similar size with the same main cause include Exceptional Foresters Incorporated ($12.0m), Arkansas Family Supports Inc ($12.0m) and Kids After Hours Child Care Centers ($12.0m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 0.0% and program service revenue 94% of the total. Compensation of current officers, directors and key employees was $1.3m (6.7% of expenses). Other salaries and wages came to $9.6m. At year end it held assets of -$25.7m against liabilities of $11.3m, net assets of -$37.0m. It reported 196 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.