Gates of Hope Inc

Analysis

Gates of Hope Inc is a registered charity in United States, based in Fall River, MA. It received its IRS tax-exemption ruling in April 2015, 11 years ago. Its declared purposes cover food, agriculture and nutrition, 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 December 2023, Gates of Hope Inc reported income of $72k and spending of $60k, spending 83% of its income. Across the 2 years on record, from December 2022 to December 2023, income fell from $129k to $72k (-44%), an average of -44% a year. The sharpest change came in the year to December 2023, when income dropped by 44%. Over the whole period it spent 91% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Gates of Hope 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 28th percentile, and in the 36th percentile within MA. Charities of a similar size with the same main cause include Westinghouse Sure Service Uniting Retired Employees ($72k), Pink Ribbons of Endurance ($72k) and Color a Smile Inc ($72k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 32% of the total. At year end it held assets of $31k against liabilities of $0, net assets of $31k.