Testimonies of Hope Inc

Analysis

Testimonies of Hope Inc is a registered charity in United States, based in Davenport, IA. It received its IRS tax-exemption ruling in December 2017, 9 years ago. Its declared purposes cover public and societal benefit, which this site groups under other charitable purposes. 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, Testimonies of Hope Inc reported income of $409k and spending of $337k, spending 82% of its income. Across the 3 years on record, from December 2021 to December 2023, income grew from $265k to $409k (+54%), an average of +24% a year. The sharpest change came in the year to December 2022, when income rose by 45%. Over the whole period it spent 72% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Testimonies of Hope Inc sits at the 65th percentile: it is larger than about 65% of them. Against every charity in United States with reported income it ranks in the 67th percentile, and in the 70th percentile within IA. Charities of a similar size with the same main cause include West Yadkin Volunteer Fire Dept Inc ($409k), Camp Allen Ministries Inc ($410k) and Mayacamas Volunteer Fire Department Inc ($409k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 84% of the total. Compensation of current officers, directors and key employees was $44k (13% of expenses). Other salaries and wages came to $101k. At year end it held assets of $374k against liabilities of $3,269, net assets of $370k.