New Hope Arts Inc

Analysis

New Hope Arts Inc is a registered charity in United States, based in New Hope, PA. It received its IRS tax-exemption ruling in December 2002, 24 years ago. 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, New Hope Arts Inc reported income of $531k and spending of $359k, leaving 33% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $310k to $531k (+71%), an average of +14% a year. The sharpest change came in the year to December 2021, when income rose by 145%. Over the whole period it spent 64% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, New Hope Arts 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 71st percentile, and in the 69th percentile within PA. Charities of a similar size with the same main cause include Sikh Religious Society of Wisconsin ($531k), Montgomery County Association for the Blind Inc ($531k) and Middlebury Volunteer Fire Department Inc ($531k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 61% and program service revenue 18% of the total. Compensation of current officers, directors and key employees was $62k (17% of expenses). At year end it held assets of $1.8m against liabilities of $876k, net assets of $957k. It reported 1 employees.