Restoring Hope Center Inc

Analysis

Restoring Hope Center Inc is a registered charity in United States, based in Laurinburg, NC. It received its IRS tax-exemption ruling in September 2010, 16 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Restoring Hope Center Inc reported income of $2.3m and spending of $2.2m, spending 96% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.0m to $2.3m (+12%), an average of +2.9% a year. The sharpest change came in the year to December 2022, when income dropped by 38%. Over the whole period it spent 98% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Restoring Hope Center Inc sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 88th percentile within NC. Charities of a similar size with the same main cause include Glassboro Child Development Centers ($2.3m), Coles County Council on Aging ($2.3m) and Paving the Way Multi Service Institute ($2.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $53k (2.4% of expenses). Other salaries and wages came to $8,787. At year end it held assets of $608k against liabilities of $4,632, net assets of $603k. It reported 3 employees.