Hopeworks of Howard County Inc

Analysis

Hopeworks of Howard County Inc is a registered charity in United States, based in Columbia, MD. It received its IRS tax-exemption ruling in May 1980, 46 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 June 2023, Hopeworks of Howard County Inc reported income of $2.7m and spending of $3.1m, spending 116% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.5m to $2.7m (+8.0%), an average of +1.9% a year. 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, Hopeworks of Howard County Inc sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 87th percentile within MD. Charities of a similar size with the same main cause include New Foundations Inc ($2.7m), The Arc Big Bend Inc ($2.7m) and Young People in Recovery ($2.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $87k (2.8% of expenses). Other salaries and wages came to $1.5m. At year end it held assets of $2.0m against liabilities of $660k, net assets of $1.4m. It reported 45 employees.