Hope Center for Arts and Technology Inc

Analysis

Hope Center for Arts and Technology Inc is a registered charity in United States, based in Sharon, PA. It received its IRS tax-exemption ruling in April 2015, 11 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Hope Center for Arts and Technology Inc reported income of $831k and spending of $986k, spending 119% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $2.2m to $831k (-62%), an average of -22% a year. The sharpest change came in the year to June 2020, when income dropped by 64%. Over the whole period it spent 81% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Hope Center for Arts and Technology Inc sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 75th percentile within PA. Charities of a similar size with the same main cause include Clean Fuels Alliance Foundation ($831k), Lakota Language Consortium Inc ($831k) and Warmline Family Resource Center ($831k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 94% and program service revenue 5.8% of the total. Compensation of current officers, directors and key employees was $102k (10% of expenses). Other salaries and wages came to $329k. At year end it held assets of $4.8m against liabilities of $546k, net assets of $4.3m. It reported 15 employees.