New Hope of McDowell

Analysis

New Hope of McDowell is a registered charity in United States, based in Marion, NC. It received its IRS tax-exemption ruling in October 1984, 42 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, New Hope of McDowell reported income of $642k and spending of $464k, leaving 28% of income unspent that year. Across the 4 years on record, from June 2020 to June 2023, income grew from $318k to $642k (+102%), an average of +26% a year. The sharpest change came in the year to June 2021, when income rose by 115%. Over the whole period it spent 76% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, New Hope of McDowell sits at the 69th percentile: it is larger than about 69% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 74th percentile within NC. Charities of a similar size with the same main cause include Bergen County Court Appointed Special Advocates Inc ($642k), 21st Century Village Community Learning Center ($642k) and Por Los Nuetros Inc ($642k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 96% of the total. Compensation of current officers, directors and key employees was $60k (13% of expenses). Other salaries and wages came to $222k. At year end it held assets of $811k against liabilities of $3,415, net assets of $808k. It reported 27 employees.