Hope Center

Analysis

Hope Center is a registered charity in United States, based in Faribault, MN. It received its IRS tax-exemption ruling in September 1979, 47 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 June 2023, Hope Center reported income of $551k and spending of $503k, spending 91% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $439k to $551k (+25%), an average of +5.8% a year. The sharpest change came in the year to June 2022, when income rose by 24%. Over the whole period it spent 90% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Hope Center sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 71st percentile within MN. Charities of a similar size with the same main cause include Strausstown Volunteer Fire Company and Community Campus ($551k), Local Impact ($551k) and Mesila International Inc ($551k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 99% of the total. Other salaries and wages came to $312k. At year end it held assets of $441k against liabilities of $11k, net assets of $429k. It reported 7 employees.