Hope Floats Healing & Wellness Center Inc

Analysis

Hope Floats Healing & Wellness Center Inc is a registered charity in United States, based in Kingston, MA. It received its IRS tax-exemption ruling in April 2008, 18 years ago. Its declared purposes cover education, which this site groups under education and training. 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, Hope Floats Healing & Wellness Center Inc reported income of $628k and spending of $465k, leaving 26% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $499k to $628k (+26%), an average of +5.9% a year. The sharpest change came in the year to December 2023, when income rose by 34%. Over the whole period it spent 49% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Hope Floats Healing & Wellness Center Inc 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 74th percentile within MA. Charities of a similar size with the same main cause include R Stuart Moore Charitable Trust for the Benefit of Ferrum College ($628k), Joshua Inc ($629k) and Seek Foundation Inc ($628k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 94% and program service revenue 6.6% of the total. Compensation of current officers, directors and key employees was $111k (24% of expenses). Other salaries and wages came to $128k. At year end it held assets of $1.5m against liabilities of $15k, net assets of $1.4m. It reported 7 employees.