New Hope Educational Institute Inc

Analysis

New Hope Educational Institute Inc is a registered charity in United States, based in Landover HLS, MD. It received its IRS tax-exemption ruling in July 1990, 36 years ago. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, New Hope Educational Institute Inc reported income of $2.4m and spending of $2.4m, spending 98% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.3m to $2.4m (+5.8%), an average of +1.4% a year. The sharpest change came in the year to June 2022, when income rose by 44%. 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, New Hope Educational Institute Inc sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 86th percentile within MD. Charities of a similar size with the same main cause include The American College of Psychiatrists Inc ($2.4m), Central South Carolina Habitat for Humanity Inc ($2.4m) and Lutherans Outdoors in South Dakota Inc ($2.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 21% and program service revenue 79% of the total. Other salaries and wages came to $1.5m. At year end it held assets of $1.6m against liabilities of $483k, net assets of $1.1m. It reported 62 employees.