Hope Charitable Services Inc

Analysis

Hope Charitable Services Inc is a registered charity in United States, based in Portsmouth, VA. It received its IRS tax-exemption ruling in August 1994, 32 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 December 2023, Hope Charitable Services Inc reported income of $129k and spending of $136k, spending 106% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $347k to $129k (-63%), an average of -22% a year. The sharpest change came in the year to December 2020, when income dropped by 51%. Over the whole period it spent 107% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Hope Charitable Services Inc sits at the 28th percentile: it is larger than about 28% of them. Against every charity in United States with reported income it ranks in the 43rd percentile, and in the 43rd percentile within VA. Charities of a similar size with the same main cause include Friends D D Housing Inc ($129k), Dreamkey Partners Mortgage Inc ($129k) and Country Gardens Inc ($128k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 69% and program service revenue 8.9% of the total. Other salaries and wages came to $70k. At year end it held assets of -$18k against liabilities of -$18k, net assets of $0. It reported 1 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.