Love Fosters Hope

Analysis

Love Fosters Hope is a registered charity in United States, based in Spring, TX. It received its IRS tax-exemption ruling in November 2012, 14 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 2022, Love Fosters Hope reported income of $396k and spending of $592k, spending 149% of what it took in. Across the 4 years on record, from December 2019 to December 2022, income fell from $521k to $396k (-24%), an average of -8.7% a year. The sharpest change came in the year to December 2022, when income dropped by 36%. Over the whole period it spent 100% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Love Fosters Hope 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 66th percentile, and in the 71st percentile within TX. Charities of a similar size with the same main cause include Fairy Godmother Project ($396k), Purcellville Volunteer Rescue Squad Inc ($396k) and Deltas of Charlotte Inc ($396k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 85% of the total. Other salaries and wages came to $275k. At year end it held assets of $417k against liabilities of $21k, net assets of $395k. It reported 8 employees.