Hope Center Foundation

Analysis

Hope Center Foundation is a registered charity in United States, based in Chicago, IL. 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 December 2023, Hope Center Foundation reported income of $1.6m and spending of $1.6m, spending 98% of its income. Across the 4 years on record, from December 2020 to December 2023, income grew from $206k to $1.6m (+698%), an average of +100% a year. The sharpest change came in the year to December 2021, when income rose by 156%. Over the whole period it spent 96% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Hope Center Foundation sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 84th percentile within IL. Charities of a similar size with the same main cause include Domestic Violence Services of Cumberland & Perry Counties ($1.6m), Resource Center for Parents & Children ($1.6m) and Programs for Exceptional People ($1.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $130k (8.1% of expenses). Other salaries and wages came to $539k. It paid $32k in professional fundraising fees. At year end it held assets of $3.3m against liabilities of $3.1m, net assets of $169k. It reported 38 employees.