Hope Community Inc

Analysis

Hope Community Inc is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in March 1977, 49 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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, Hope Community Inc reported income of $3.5m and spending of $4.7m, spending 133% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $3.8m to $3.5m (-7.9%), an average of -2.0% a year. Over the whole period it spent 109% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Hope Community Inc sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 89th percentile within MN. Charities of a similar size with the same main cause include Volunteer Legal Advocates ($3.5m), Santee Lynches Affordable Housing and Community Development Corp ($3.5m) and Neighborhoods Inc of Battle Creek ($3.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 66% and program service revenue 27% of the total. Other salaries and wages came to $1.7m. At year end it held assets of $12.0m against liabilities of $8.0m, net assets of $4.0m. It reported 20 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.