Hope Haven Area Development Center Foundation

Analysis

Hope Haven Area Development Center Foundation is a registered charity in United States, based in Burlington, IA. It received its IRS tax-exemption ruling in January 1994, 32 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Hope Haven Area Development Center Foundation reported income of $623k and spending of $142k, leaving 77% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $390k to $623k (+60%), an average of +12% a year. The sharpest change came in the year to June 2020, when income rose by 136%. Over the whole period it spent 24% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Hope Haven Area Development Center Foundation sits at the 71st percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 76th percentile within IA. Charities of a similar size with the same main cause include Believers United in Local Development ($623k), Seneca Street Community Development Corporation ($623k) and Order Sons of Italy in America New York Grand Lodge Foundation ($623k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 61% of the total. Other salaries and wages came to $68k. At year end it held assets of $6.5m against liabilities of $0, net assets of $6.5m.