Light of Hope Inc

Analysis

Light of Hope Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in January 2014, 12 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, Light of Hope Inc reported income of $508k and spending of $188k, leaving 63% of income unspent that year. Across the 3 years on record, from December 2021 to December 2023, income fell from $586k to $508k (-13%), an average of -6.9% a year. The sharpest change came in the year to December 2022, when income rose by 58%. Over the whole period it spent 22% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Light of Hope Inc 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 70th percentile, and in the 66th percentile within NY. Charities of a similar size with the same main cause include Is-Able Ministries ($508k), Fort Wayne Urban League Inc ($508k) and Happy Kids Daycare & Preschool Inc ($508k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $43k (23% of expenses). Other salaries and wages came to $12k. At year end it held assets of $1.6m against liabilities of $0, net assets of $1.6m.