Hope Ignites Baltimore Inc

Analysis

Hope Ignites Baltimore Inc is a registered charity in United States, based in Baltimore, MD. It received its IRS tax-exemption ruling in December 1979, 47 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 2023, Hope Ignites Baltimore Inc reported income of $764k and spending of $857k, spending 112% of what it took in. Across the 3 years on record, from June 2021 to June 2023, income fell from $973k to $764k (-21%), an average of -11% a year. The sharpest change came in the year to June 2023, when income dropped by 21%. Over the whole period it spent 97% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Hope Ignites Baltimore Inc sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 75th percentile within MD. Charities of a similar size with the same main cause include Big Brothers & Big Sisters of the Big Bend Inc ($764k), McDowell Technical Community College Foundation Incorporated ($764k) and Homeless Services of Aroostook ($764k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 97% and program service revenue 3.1% of the total. Compensation of current officers, directors and key employees was $256k (30% of expenses). Other salaries and wages came to $184k. At year end it held assets of $1.8m against liabilities of $179k, net assets of $1.6m. It reported 16 employees.