Hope Association

Analysis

Hope Association is a registered charity in United States, based in Washington, DC. It received its IRS tax-exemption ruling in December 2015, 11 years ago. Its declared purposes cover religion-related, which this site groups under religion. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Hope Association reported income of $287k and spending of $490k, spending 171% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $385k to $287k (-25%), an average of -7.1% a year. The sharpest change came in the year to December 2021, when income rose by 63%. Over the whole period it spent 97% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Hope Association sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 61st percentile, and in the 35th percentile within DC. Charities of a similar size with the same main cause include Heart of Grace Ministries ($287k), Chua Dieu Phap Inc ($287k) and Gospel Echoes Northwest Inc ($287k).

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 $100k (20% of expenses). Other salaries and wages came to $136k. At year end it held assets of $298k against liabilities of $12k, net assets of $286k. It reported 7 employees.