Hope Gala Incorporated

Analysis

Hope Gala Incorporated is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in October 2015, 11 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 June 2023, Hope Gala Incorporated reported income of $224k and spending of $222k, spending 99% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $242k to $224k (-7.6%), an average of -2.0% a year. The sharpest change came in the year to June 2021, when income rose by 128%. Over the whole period it spent 100% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Hope Gala Incorporated sits at the 50th percentile: it is larger than about 50% of them. Against every charity in United States with reported income it ranks in the 56th percentile, and in the 53rd percentile within NY. Charities of a similar size with the same main cause include Patsy Reeve Foundation Inc ($224k), After Military Service ($224k) and Northern California Peoples Advocate ($224k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 123% of the total. At year end it held assets of $7,710 against liabilities of $0, net assets of $7,710.