Restored Hope Ministries Inc

Analysis

Restored Hope Ministries Inc is a registered charity in United States, based in Dallas, TX. It received its IRS tax-exemption ruling in April 2013, 13 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, Restored Hope Ministries Inc reported income of $723k and spending of $801k, spending 111% of what it took in. Across the 6 years on record, from December 2018 to December 2023, income grew from $593k to $723k (+22%), an average of +4.1% a year. The sharpest change came in the year to December 2019, when income rose by 21%. Over the whole period it spent 94% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Restored Hope Ministries Inc sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 79th percentile within TX. Charities of a similar size with the same main cause include Victim-Witness Services of South Philadelphia Inc ($723k), Champlain Islands Parent Child Center ($724k) and KSDS Assistance Dogs Inc ($723k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 94% of the total. Compensation of current officers, directors and key employees was $128k (16% of expenses). Other salaries and wages came to $258k. At year end it held assets of $1.4m against liabilities of $895k, net assets of $512k. It reported 15 employees.