Bright Hope Inc

Analysis

Bright Hope Inc is a registered charity in United States, based in Lynchburg, VA. It received its IRS tax-exemption ruling in January 2005, 21 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 December 2023, Bright Hope Inc reported income of $53k and spending of $53k, spending 99% of its income. Across the 2 years on record, from December 2022 to December 2023, income fell from $87k to $53k (-39%), an average of -39% a year. The sharpest change came in the year to December 2023, when income dropped by 39%. Over the whole period it spent 100% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Bright Hope Inc sits at the 18th percentile: it is larger than about 18% of them. Against every charity in United States with reported income it ranks in the 21st percentile, and in the 20th percentile within VA. Charities of a similar size with the same main cause include 1000 in Action ($53k), Give Back Foundation Inc ($53k) and The Home Place Corporation ($53k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 2.2% and program service revenue 51% of the total. At year end it held assets of $13k against liabilities of $0, net assets of $13k.