Albemarle Hopeline Inc

Analysis

Albemarle Hopeline Inc is a registered charity in United States, based in Elizabeth Cty, NC. It received its IRS tax-exemption ruling in June 1983, 43 years ago. 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 2024, Albemarle Hopeline Inc reported income of $2.1m and spending of $1.9m, spending 91% of its income. Across the 6 years on record, from June 2019 to June 2024, income grew from $1.4m to $2.1m (+47%), an average of +8.0% a year. The sharpest change came in the year to June 2021, when income rose by 30%. Over the whole period it spent 92% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Albemarle Hopeline Inc sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 87th percentile within NC. Charities of a similar size with the same main cause include Worksafe Inc ($2.1m), Luther Park Apartments Inc ($2.1m) and Opportunities Industrialization Center Inc ($2.1m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 97% of the total. Other salaries and wages came to $1.1m. At year end it held assets of $3.2m against liabilities of $739k, net assets of $2.5m. It reported 36 employees.