The Source of Hope

Analysis

The Source of Hope is a registered charity in United States, based in Plano, TX. It received its IRS tax-exemption ruling in December 2014, 12 years ago. Its declared purposes cover education, which this site groups under education and training. 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, The Source of Hope reported income of $80k and spending of $62k, leaving 23% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $57k to $80k (+40%), an average of +40% a year. The sharpest change came in the year to December 2023, when income rose by 40%. Over the whole period it spent 78% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, The Source of Hope sits at the 34th percentile: it is larger than about 34% of them. Against every charity in United States with reported income it ranks in the 31st percentile, and in the 33rd percentile within TX. Charities of a similar size with the same main cause include TLC Foundation for Homeless Children of San Joaquin County ($80k), Ozark Foothills Literacy Project ($80k) and Lakewood Elementary Parent Teacher Organization ($80k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 36% and program service revenue 64% of the total. At year end it held assets of $74k against liabilities of $6,845, net assets of $67k.