Beacon of Hope Services

Analysis

Beacon of Hope Services is a registered charity in United States, based in Marshall, NC. It received its IRS tax-exemption ruling in April 2001, 25 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 December 2022, Beacon of Hope Services reported income of $1.3m and spending of $1.3m, spending 94% of its income. Across the 4 years on record, from December 2019 to December 2022, income grew from $920k to $1.3m (+46%), an average of +13% a year. The sharpest change came in the year to December 2021, when income rose by 47%. Over the whole period it spent 92% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Beacon of Hope Services sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 83rd percentile within NC. Charities of a similar size with the same main cause include Pinocchio Child Care Center Inc ($1.3m), Drylands Agroecology Research Foundation ($1.3m) and Camps in Common ($1.3m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 97% of the total. Compensation of current officers, directors and key employees was $40k (3.2% of expenses). Other salaries and wages came to $46k. At year end it held assets of $495k against liabilities of $7,172, net assets of $488k. It reported 8 employees.