Hope and Comfort Inc

Analysis

Hope and Comfort Inc is a registered charity in United States, based in Needham, MA. It received its IRS tax-exemption ruling in June 2011, 15 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, Hope and Comfort Inc reported income of $5.0m and spending of $5.1m, spending 103% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.5m to $5.0m (+223%), an average of +34% a year. The sharpest change came in the year to December 2020, when income rose by 90%. Over the whole period it spent 83% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Hope and Comfort Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 91st percentile within MA. Charities of a similar size with the same main cause include Kids Can Community Center ($5.0m), Womens Center of East Texas Inc ($5.0m) and Young Mens Christian Association of the Treasure Coast Florida Inc ($5.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% of the total. Compensation of current officers, directors and key employees was $200k (3.9% of expenses). Other salaries and wages came to $188k. At year end it held assets of $4.5m against liabilities of $718k, net assets of $3.8m. It reported 6 employees.