Saint Therese of New Hope

Analysis

Saint Therese of New Hope is a registered charity in United States, based in St Louis Park, MN. It received its IRS tax-exemption ruling in August 1967, 59 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 June 2023, Saint Therese of New Hope reported income of $28.3m and spending of $32.8m, spending 116% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $41.1m to $28.3m (-31%), an average of -8.9% a year. The sharpest change came in the year to June 2021, when income dropped by 26%. Over the whole period it spent 100% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Saint Therese of New Hope sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within MN. Charities of a similar size with the same main cause include The Legacy Willow Bend Inc ($28.3m), Community Supports Inc ($28.3m) and Area Agency on Aging of Central Florida Inc ($28.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.3% and program service revenue 98% of the total. Other salaries and wages came to $18.8m. At year end it held assets of $22.0m against liabilities of $4.0m, net assets of $18.0m. It reported 439 employees.