Fostering Hope New England Inc

Analysis

Fostering Hope New England Inc is a registered charity in United States, based in Providence, RI. It received its IRS tax-exemption ruling in March 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, Fostering Hope New England Inc reported income of $400k and spending of $351k, spending 88% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $204k to $400k (+96%), an average of +18% a year. The sharpest change came in the year to December 2021, when income rose by 66%. Over the whole period it spent 75% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Fostering Hope New England Inc sits at the 61st percentile: it is larger than about 61% of them. Against every charity in United States with reported income it ranks in the 67th percentile, and in the 62nd percentile within RI. Charities of a similar size with the same main cause include Women and Youth Center Inc ($400k), Elmore County Domestic Violence Council ($400k) and Dc127 Inc ($400k).

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 $90k (26% of expenses). Other salaries and wages came to $148k. At year end it held assets of $480k against liabilities of $2,525, net assets of $478k. It reported 12 employees.