Community of Hope

Analysis

Community of Hope is a registered charity in United States, based in Melbourne, FL. It received its IRS tax-exemption ruling in October 2005, 21 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 (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, Community of Hope reported income of $1.5m and spending of $1.5m, spending 99% of its income. Across the 6 years on record, from December 2017 to December 2023, income grew from $314k to $1.5m (+392%), an average of +38% a year. The sharpest change came in the year to December 2023, when income rose by 108%. Over the whole period it spent 100% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Community of Hope sits at the 79th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 86th percentile within FL. Charities of a similar size with the same main cause include Country Meadow of Milaca Inc ($1.5m), Indochinese Housing Development Corporation ($1.5m) and Nonprofit Housing Preservation Pi Inc ($1.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 67% and program service revenue 31% of the total. Compensation of current officers, directors and key employees was $68k (4.4% of expenses). Other salaries and wages came to $143k. At year end it held assets of $5.1m against liabilities of $4.2m, net assets of $870k. It reported 9 employees.