Fostering Hope

Analysis

Fostering Hope is a registered charity in United States, based in Solon, OH. It received its IRS tax-exemption ruling in September 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 June 2023, Fostering Hope reported income of $528k and spending of $488k, spending 92% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $342k to $528k (+55%), an average of +12% a year. Over the whole period it spent 83% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Fostering Hope sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 71st percentile within OH. Charities of a similar size with the same main cause include Kolel Damsek Eliezer Inc ($528k), Genesis and Light Center ($528k) and FLCCT Inc ($528k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 101% of the total. Compensation of current officers, directors and key employees was $54k (11% of expenses). Other salaries and wages came to $50k. It paid $28k in professional fundraising fees. At year end it held assets of $387k against liabilities of $0, net assets of $387k. It reported 4 employees.