Hopeful Beginnings

Analysis

Hopeful Beginnings is a registered charity in United States, based in Grand Forks, ND. It received its IRS tax-exemption ruling in June 2017, 9 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Hopeful Beginnings reported income of $2.9m and spending of $2.9m, spending 99% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $976k to $2.9m (+201%), an average of +32% a year. The sharpest change came in the year to December 2022, when income rose by 66%. Over the whole period it spent 102% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Hopeful Beginnings sits at the 87th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 88th percentile within ND. Charities of a similar size with the same main cause include Binghamton Broome County Y M C a ($2.9m), Generations with Pride ($2.9m) and Brightside Inc ($2.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 11% and program service revenue 87% of the total. Compensation of current officers, directors and key employees was $64k (2.2% of expenses). Other salaries and wages came to $2.0m. At year end it held assets of $2.6m against liabilities of $2.6m, net assets of -$16k. It reported 174 employees.