Urban Hope Inc

Analysis

Urban Hope Inc is a registered charity in United States, based in Richmond, VA. It received its IRS tax-exemption ruling in January 2001, 25 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, Urban Hope Inc reported income of $2.0m and spending of $1.1m, leaving 46% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $430k to $2.0m (+363%), an average of +47% a year. The sharpest change came in the year to December 2020, when income rose by 58%. Over the whole period it spent 56% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Urban Hope Inc sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 86th percentile within VA. Charities of a similar size with the same main cause include Milford Council on Aging ($2.0m), Supreme Council Fitzwater Development Corporation ($2.0m) and Rosies House a Music Academy for Children Inc ($2.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 86% and program service revenue 14% of the total. Compensation of current officers, directors and key employees was $118k (11% of expenses). Other salaries and wages came to $384k. At year end it held assets of $5.4m against liabilities of $2.7m, net assets of $2.7m. It reported 7 employees.