Ray of Hope Inc

Analysis

Ray of Hope Inc is a registered charity in United States, based in Cumberland, MD. It received its IRS tax-exemption ruling in June 1989, 37 years ago. 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, Ray of Hope Inc reported income of $5.2m and spending of $4.6m, spending 88% of its income. Across the 6 years on record, from June 2019 to June 2024, income grew from $4.1m to $5.2m (+25%), an average of +4.6% a year. The sharpest change came in the year to June 2021, when income rose by 22%. Over the whole period it spent 94% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Ray of Hope Inc sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 91st percentile within MD. Charities of a similar size with the same main cause include Fbi National Academy Associates Inc ($5.2m), Young Mens Christian Association of Trenton ($5.2m) and One Voice ($5.2m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 97% and program service revenue 2.1% of the total. Other salaries and wages came to $3.4m. At year end it held assets of $2.7m against liabilities of $502k, net assets of $2.2m. It reported 68 employees.