The Hope Academy

Analysis

The Hope Academy is a registered charity in United States, based in Providence, RI. It received its IRS tax-exemption ruling in November 2014, 12 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 June 2023, The Hope Academy reported income of $6.4m and spending of $5.7m, spending 90% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $3.0m to $6.4m (+113%), an average of +21% a year. The sharpest change came in the year to June 2021, when income rose by 30%. Over the whole period it spent 93% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, The Hope Academy sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 91st percentile within RI. Charities of a similar size with the same main cause include Leech Lake Tribal College ($6.4m), Downsville Community Charter Inc ($6.4m) and Young Womens College Prep Charter School of Rochester ($6.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 72% and program service revenue 27% of the total. Compensation of current officers, directors and key employees was $458k (8.0% of expenses). Other salaries and wages came to $2.4m. At year end it held assets of $5.9m against liabilities of $3.9m, net assets of $2.1m. It reported 78 employees.