High Socks for Hope Inc

Analysis

High Socks for Hope Inc is a registered charity in United States, based in Northport, AL. 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 2022, High Socks for Hope Inc reported income of $1.5m and spending of $1.2m, leaving 22% of income unspent that year. Across the 4 years on record, from December 2019 to December 2022, income grew from $1.5m to $1.5m (+2.1%), an average of +0.7% a year. The sharpest change came in the year to December 2022, when income rose by 19%. Over the whole period it spent 85% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, High Socks for Hope Inc sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 87th percentile within AL. Charities of a similar size with the same main cause include Hope Harbor Inc ($1.5m), Healthy Child Care Colorado ($1.5m) and Evansville Christian Life Center Inc ($1.5m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 100% of the total. At year end it held assets of $1.1m against liabilities of $10k, net assets of $1.1m. It reported 1 employees.