Hope 7 Inc

Analysis

Hope 7 Inc is a registered charity in United States, based in Akron, OH. It received its IRS tax-exemption ruling in September 2022, 4 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. 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 7 Inc reported income of $86k and spending of $260k, spending 301% of what it took in. Across the 3 years on record, from December 2020 to December 2023, income fell from $263k to $86k (-67%), an average of -43% a year. The sharpest change came in the year to December 2023, when income dropped by 60%. Over the whole period it spent 126% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Hope 7 Inc sits at the 25th percentile: it is larger than about 25% of them. Against every charity in United States with reported income it ranks in the 33rd percentile, and in the 34th percentile within OH. Charities of a similar size with the same main cause include American Academy of Fertilitycare Professionals ($86k), Eagles Mere Volunteer Ambulance Association ($86k) and Barnesville Area Living at Home- Block Nurse Program ($86k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $90k. At year end it held assets of $10k against liabilities of $206k, net assets of -$196k. It reported 3 employees.