Hope of Winston Salem Inc

Analysis

Hope of Winston Salem Inc is a registered charity in United States, based in Winston Salem, NC. It received its IRS tax-exemption ruling in August 2014, 12 years ago. Its declared purposes cover food, agriculture and nutrition, 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, Hope of Winston Salem Inc reported income of $680k and spending of $627k, spending 92% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $570k to $680k (+19%), an average of +4.5% a year. The sharpest change came in the year to June 2021, when income rose by 24%. Over the whole period it spent 93% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Hope of Winston Salem Inc sits at the 69th percentile: it is larger than about 69% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 74th percentile within NC. Charities of a similar size with the same main cause include Bloom India Development Foundation Inc ($680k), Great Lakes Bay Foundation ($680k) and Angels Foster Care of Santa Barbara ($680k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 101% of the total. Other salaries and wages came to $129k. At year end it held assets of $1.1m against liabilities of $3,604, net assets of $1.1m. It reported 8 employees.