Hope Inspired Ministries Inc

Analysis

Hope Inspired Ministries Inc is a registered charity in United States, based in Montgomery, AL. It received its IRS tax-exemption ruling in June 2012, 14 years ago. Its declared purposes cover employment, which this site groups under community and economic development. 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 September 2023, Hope Inspired Ministries Inc reported income of $1.9m and spending of $1.7m, spending 89% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $493k to $1.9m (+283%), an average of +40% a year. The sharpest change came in the year to September 2020, when income rose by 88%. Over the whole period it spent 92% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Hope Inspired Ministries Inc sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 89th percentile within AL. Charities of a similar size with the same main cause include Van Goghs Palette Inc ($1.9m), Isaca Foundation ($1.9m) and Coyote Taskforce ($1.9m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 86% and program service revenue 5.1% of the total. Compensation of current officers, directors and key employees was $87k (5.2% of expenses). Other salaries and wages came to $912k. At year end it held assets of $1.0m against liabilities of $320k, net assets of $688k. It reported 34 employees.