Beacon of Hope Foster Care Agency Inc

Analysis

Beacon of Hope Foster Care Agency Inc is a registered charity in United States, based in Corpus Christi, TX. It received its IRS tax-exemption ruling in February 2016, 10 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, Beacon of Hope Foster Care Agency Inc reported income of $779k and spending of $765k, spending 98% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.2m to $779k (-36%), an average of -10% a year. The sharpest change came in the year to December 2022, when income rose by 29%. 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, Beacon of Hope Foster Care Agency Inc sits at the 71st percentile: it is larger than about 71% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 80th percentile within TX. Charities of a similar size with the same main cause include Christian Shelter Inc ($779k), North Valley Church Early Learningcenter Inc ($779k) and Philadelphia Contemporary ($779k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Compensation of current officers, directors and key employees was $71k (9.3% of expenses). Other salaries and wages came to $198k. At year end it held assets of $56k against liabilities of $77k, net assets of -$21k. It reported 6 employees.