Rochester New Hope Corporation

Analysis

Rochester New Hope Corporation is a registered charity in United States, based in Rochester, MN. It received its IRS tax-exemption ruling in April 1994, 32 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, Rochester New Hope Corporation reported income of $85k and spending of $112k, spending 131% of what it took in. Across the 2 years on record, from September 2022 to September 2023, income grew from $63k to $85k (+34%), an average of +34% a year. The sharpest change came in the year to September 2023, when income rose by 34%. Over the whole period it spent 132% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Rochester New Hope Corporation sits at the 29th percentile: it is larger than about 29% of them. Against every charity in United States with reported income it ranks in the 33rd percentile, and in the 30th percentile within MN. Charities of a similar size with the same main cause include Oklahoma Central Foundation Inc ($85k), Society of St Vincent de Paul ($85k) and Greater Weirton Senior Citizens Center Inc ($85k).

On its Form 990-EZ for the period ending September 2023, revenue came from contributions and grants 20% and program service revenue 79% of the total. At year end it held assets of $264k against liabilities of $24k, net assets of $241k.