Hope Restorations Inc

Analysis

Hope Restorations Inc is a registered charity in United States, based in Kinston, NC. It received its IRS tax-exemption ruling in April 2017, 9 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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 2024, Hope Restorations Inc reported income of $1.2m and spending of $1.2m, spending 106% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income grew from $981k to $1.2m (+19%), an average of +4.5% a year. The sharpest change came in the year to June 2024, when income rose by 68%. Over the whole period it spent 98% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Hope Restorations Inc sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 82nd percentile within NC. Charities of a similar size with the same main cause include Scottish Rite Tower Development Corporation ($1.2m), Gardena Senior Housing Inc ($1.2m) and Jewel Foundation Incorporated ($1.2m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 69% and program service revenue 12% of the total. Compensation of current officers, directors and key employees was $52k (4.2% of expenses). Other salaries and wages came to $565k. At year end it held assets of $931k against liabilities of $66k, net assets of $864k. It reported 21 employees.