Center of Hope

Analysis

Center of Hope is a registered charity in United States, based in Sioux Falls, SD. It received its IRS tax-exemption ruling in January 2002, 24 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 March 2023, Center of Hope reported income of $419k and spending of $372k, spending 89% of its income. Across the 4 years on record, from March 2020 to March 2023, income grew from $418k to $419k (+0.2%), an average of +0.1% a year. The sharpest change came in the year to March 2021, when income rose by 16%. Over the whole period it spent 86% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Center of Hope sits at the 62nd percentile: it is larger than about 62% of them. Against every charity in United States with reported income it ranks in the 67th percentile, and in the 67th percentile within SD. Charities of a similar size with the same main cause include Aidan Project ($419k), Wonder World Preschool Inc ($419k) and Bright Beginnings Childrens Center Inc ($419k).

On its Form 990 for the period ending March 2023, revenue came from contributions and grants 79% and program service revenue 13% of the total. Compensation of current officers, directors and key employees was $69k (19% of expenses). Other salaries and wages came to $157k. At year end it held assets of $469k against liabilities of $7,987, net assets of $461k. It reported 8 employees.