Foundation of Hope

Analysis

Foundation of Hope is a registered charity in United States, based in Easton, MD. It received its IRS tax-exemption ruling in June 2016, 10 years ago. Its declared purposes cover education, which this site groups under education and training. 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, Foundation of Hope reported income of $236k and spending of $205k, spending 87% of its income. Across the 3 years on record, from December 2021 to December 2023, income fell from $468k to $236k (-50%), an average of -29% a year. The sharpest change came in the year to December 2022, when income dropped by 39%. Over the whole period it spent 39% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Foundation of Hope sits at the 57th percentile: it is larger than about 57% of them. Against every charity in United States with reported income it ranks in the 57th percentile, and in the 57th percentile within MD. Charities of a similar size with the same main cause include Lowther Building Fund Inc ($236k), Galileo Leadership Consortium ($236k) and Discovery Elementary School Parent Teacher Organization ($236k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 91% of the total. Compensation of current officers, directors and key employees was $118k (58% of expenses). Other salaries and wages came to $2,521. At year end it held assets of $692k against liabilities of $2,432, net assets of $689k. It reported 2 employees.