Cy-Hope Inc

Analysis

Cy-Hope Inc is a registered charity in United States, based in Cypress, TX. It received its IRS tax-exemption ruling in May 2019, 7 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 2022, Cy-Hope Inc reported income of $4.2m and spending of $3.4m, spending 80% of its income. Across the 5 years on record, from December 2018 to December 2022, income grew from $2.5m to $4.2m (+69%), an average of +14% a year. The sharpest change came in the year to December 2020, when income rose by 28%. Over the whole period it spent 83% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Cy-Hope Inc sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 93rd percentile within TX. Charities of a similar size with the same main cause include Cardinal Hayes School for Special Children ($4.2m), Muslim Public Affairs Council Foundation ($4.2m) and American Council of Rel & Vocatnl SCH Sys of Beth Jacob of Jer Inc ($4.2m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 31% and program service revenue 35% of the total. Compensation of current officers, directors and key employees was $101k (3.0% of expenses). Other salaries and wages came to $2.0m. At year end it held assets of $6.2m against liabilities of $2.6m, net assets of $3.6m. It reported 96 employees.