Hope That Binds Inc

Analysis

Hope That Binds Inc is a registered charity in United States, based in Cunningham, KY. It received its IRS tax-exemption ruling in May 2017, 9 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Hope That Binds Inc reported income of $419k and spending of $346k, spending 83% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $174k to $419k (+141%), an average of +141% a year. The sharpest change came in the year to December 2023, when income rose by 141%. 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, Hope That Binds Inc sits at the 62nd percentile: it is larger than about 62% of them. Against every charity in United States with reported income it ranks in the 67th percentile, and in the 68th percentile within KY. Charities of a similar size with the same main cause include Harmony House Inc ($419k), Greensboro Community Childcare Center ($419k) and Sunshine Haven Inc ($419k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% of the total. Compensation of current officers, directors and key employees was $26k (7.6% of expenses). Other salaries and wages came to $13k. At year end it held assets of $155k against liabilities of $0, net assets of $155k. It reported 3 employees.