Galax Hope House Ministries Inc

Analysis

Galax Hope House Ministries Inc is a registered charity in United States, based in Galax, VA. It received its IRS tax-exemption ruling in March 2009, 17 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, Galax Hope House Ministries Inc reported income of $84k and spending of $93k, spending 110% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income fell from $87k to $84k (-3.7%), an average of -3.7% a year. Over the whole period it spent 109% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Galax Hope House Ministries Inc sits at the 19th percentile: it is larger than about 19% of them. Against every charity in United States with reported income it ranks in the 32nd percentile, and in the 32nd percentile within VA. Charities of a similar size with the same main cause include Community Apartments Corporation of Gaston County ($84k), Creative Housing Inc VI ($84k) and Faith Works Coalition Inc ($84k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 73% of the total. At year end it held assets of $106k against liabilities of $417, net assets of $105k.