Hope Harbor Inc

Analysis

Hope Harbor Inc is a registered charity in United States, based in Grand Island, NE. It received its IRS tax-exemption ruling in March 1995, 31 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 December 2023, Hope Harbor Inc reported income of $1.5m and spending of $1.5m, spending 97% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $854k to $1.5m (+79%), an average of +16% a year. The sharpest change came in the year to December 2020, when income rose by 45%. Over the whole period it spent 110% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Hope Harbor Inc sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 83rd percentile within NE. Charities of a similar size with the same main cause include Evansville Christian Life Center Inc ($1.5m), High Socks for Hope Inc ($1.5m) and Puerto Rican Community Center Inc ($1.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 83% and program service revenue 2.3% of the total. Compensation of current officers, directors and key employees was $90k (6.1% of expenses). Other salaries and wages came to $468k. At year end it held assets of $2.9m against liabilities of $157k, net assets of $2.7m. It reported 31 employees.