Dreams of Hope

Analysis

Dreams of Hope is a registered charity in United States, based in Pittsburgh, PA. It received its IRS tax-exemption ruling in March 2005, 21 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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 July 2023, Dreams of Hope reported income of $254k and spending of $288k, spending 114% of what it took in. Across the 5 years on record, from July 2019 to July 2023, income fell from $487k to $254k (-48%), an average of -15% a year. The sharpest change came in the year to July 2021, when income rose by 105%. Over the whole period it spent 85% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Dreams of Hope sits at the 65th percentile: it is larger than about 65% of them. Against every charity in United States with reported income it ranks in the 59th percentile, and in the 56th percentile within PA. Charities of a similar size with the same main cause include Players Ring Company ($254k), American Harp Society Inc ($254k) and Jackson Area Festivals & Events ($254k).

On its Form 990 for the period ending July 2023, revenue came from contributions and grants 99% and program service revenue 0.9% of the total. Compensation of current officers, directors and key employees was $175k (61% of expenses). At year end it held assets of $418k against liabilities of $76k, net assets of $342k. It reported 5 employees.