New Hope Academy

Analysis

New Hope Academy is a registered charity in United States, based in Lehi, UT. It received its IRS tax-exemption ruling in January 2013, 13 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, New Hope Academy reported income of $528k and spending of $633k, spending 120% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $464k to $528k (+14%), an average of +3.2% a year. The sharpest change came in the year to December 2021, when income rose by 35%. Over the whole period it spent 106% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, New Hope Academy sits at the 69th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 70th percentile within UT. Charities of a similar size with the same main cause include White Mountain Tuition Support Foundation Inc ($528k), Association of Haitian Women Inc ($528k) and Springfield School Volunteers Inc ($528k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 99% of the total. Compensation of current officers, directors and key employees was $262k (41% of expenses). Other salaries and wages came to $72k. At year end it held assets of $175k against liabilities of $162k, net assets of $13k. It reported 11 employees.