Hope for Tomorrow Inc

Analysis

Hope for Tomorrow Inc is a registered charity in United States, based in Derwood, MD. It received its IRS tax-exemption ruling in September 2021, 5 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 2022, Hope for Tomorrow Inc reported income of $598k and spending of $634k, spending 106% of what it took in. Across the 5 years on record, from December 2018 to December 2022, income fell from $811k to $598k (-26%), an average of -7.3% a year. The sharpest change came in the year to December 2020, when income dropped by 66%. Over the whole period it spent 99% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Hope for Tomorrow Inc sits at the 68th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 72nd percentile within MD. Charities of a similar size with the same main cause include Strong Beginnings Early Learning Center Inc ($598k), Harmony House Inc ($598k) and Family a C T S Inc ($598k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 99% of the total. At year end it held assets of $963k against liabilities of $0, net assets of $963k.