Hope Scarves Inc

Analysis

Hope Scarves Inc is a registered charity in United States, based in Louisville, KY. It received its IRS tax-exemption ruling in February 2012, 14 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. 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 Scarves Inc reported income of $714k and spending of $633k, spending 89% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $562k to $714k (+27%), an average of +6.2% a year. The sharpest change came in the year to December 2021, when income rose by 57%. Over the whole period it spent 87% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Hope Scarves Inc sits at the 60th percentile: it is larger than about 60% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 76th percentile within KY. Charities of a similar size with the same main cause include The American Association for the Treatment of Opioid Dependence Inc ($713k), The Common Good Institute Inc ($714k) and Schroon Lake Emergency Squad Inc ($713k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 79% and program service revenue 26% of the total. Compensation of current officers, directors and key employees was $68k (11% of expenses). Other salaries and wages came to $85k. At year end it held assets of $1.0m against liabilities of $185k, net assets of $834k. It reported 7 employees.