Helping Overcome Povertys Existence Inc

Analysis

Helping Overcome Povertys Existence Inc is a registered charity in United States, based in Wytheville, VA. It received its IRS tax-exemption ruling in March 1993, 33 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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, Helping Overcome Povertys Existence Inc reported income of $1.8m and spending of $1.7m, spending 97% of its income. Across the 4 years on record, from June 2019 to June 2023, income grew from $1.6m to $1.8m (+13%), an average of +4.1% a year. The sharpest change came in the year to June 2020, when income rose by 16%. Over the whole period it spent 98% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Helping Overcome Povertys Existence Inc sits at the 81st percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 85th percentile within VA. Charities of a similar size with the same main cause include Unity Properties Inc ($1.8m), Southern Tier Housing Corporation ($1.8m) and Archbishop Hurley Hall Inc ($1.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 79% and program service revenue 18% of the total. Compensation of current officers, directors and key employees was $138k (8.0% of expenses). Other salaries and wages came to $364k. At year end it held assets of $5.8m against liabilities of $3.8m, net assets of $2.0m. It reported 17 employees.