Hope Renewed Realty Corporation

Analysis

Hope Renewed Realty Corporation is a registered charity in United States, based in Providence, RI. It received its IRS tax-exemption ruling in July 2004, 22 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, Hope Renewed Realty Corporation reported income of $58k and spending of $577k, spending 995% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $55k to $58k (+4.6%), an average of +1.1% a year. The sharpest change came in the year to December 2022, when income rose by 24%. Over the whole period it spent 828% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Hope Renewed Realty Corporation sits at the 13th percentile: it is larger than about 13% of them. Against every charity in United States with reported income it ranks in the 23rd percentile, and in the 20th percentile within RI. Charities of a similar size with the same main cause include Hearth Foundation Inc ($58k), Community Services Second Housing Corporation ($58k) and Myrtle Davis Senior Complex Corporation ($58k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 99% of the total. At year end it held assets of $750k against liabilities of $1.5m, net assets of -$711k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.