Metro Hope Ministries Inc

Analysis

Metro Hope Ministries Inc is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in January 1950, 76 years ago. The IRS classifies it as a church under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending August 2023, Metro Hope Ministries Inc reported income of $1.9m and spending of $1.7m, spending 88% of its income. Across the 5 years on record, from August 2019 to August 2023, income grew from $1.4m to $1.9m (+40%), an average of +8.7% a year. The sharpest change came in the year to August 2022, when income rose by 16%. Over the whole period it spent 93% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Metro Hope Ministries Inc sits at the 85th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 85th percentile within MN. Charities of a similar size with the same main cause include Or Hachayim Inc ($1.9m), William Alanson White Institute of Psychiatry Psychoanalysis and Psyc ($1.9m) and Legal Aid Society of Roanoke Valley Inc ($1.9m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 57% and program service revenue 42% of the total. Other salaries and wages came to $683k. At year end it held assets of $1.4m against liabilities of $231k, net assets of $1.2m. It reported 34 employees.