Hope for Renewal Inc

Analysis

Hope for Renewal Inc is a registered charity in United States, based in Youngstown, OH. It received its IRS tax-exemption ruling in June 2015, 11 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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 for Renewal Inc reported income of $207k and spending of $226k, spending 109% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income grew from $201k to $207k (+2.8%), an average of +2.8% a year. Over the whole period it spent 91% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Hope for Renewal Inc sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 55th percentile, and in the 55th percentile within OH. Charities of a similar size with the same main cause include Declare Worship Community ($207k), Church of Christ Belize ($207k) and Fu Yuan Buddhist Center of America ($207k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% of the total. Other salaries and wages came to $101k. At year end it held assets of $314k against liabilities of $0, net assets of $314k. It reported 2 employees.