Hope Housing of Claremore Inc

Analysis

Hope Housing of Claremore Inc is a registered charity in United States, based in Vinita, OK. It received its IRS tax-exemption ruling in July 2004, 22 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Hope Housing of Claremore Inc reported income of $121k and spending of $157k, spending 129% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $103k to $121k (+18%), an average of +4.2% a year. The sharpest change came in the year to June 2021, when income rose by 17%. Over the whole period it spent 142% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Hope Housing of Claremore Inc sits at the 27th percentile: it is larger than about 26% of them. Against every charity in United States with reported income it ranks in the 42nd percentile, and in the 42nd percentile within OK. Charities of a similar size with the same main cause include Abcap Housing III Inc ($121k), Lemars Good Samaritan Housing Inc ($121k) and Asi Longmont Inc ($121k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 56% and program service revenue 44% of the total. Other salaries and wages came to $19k. At year end it held assets of $690k against liabilities of $1.4m, net assets of -$732k. It reported 2 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.