The Foundation of Hope for Research & Treatment of Mental Illness

Analysis

The Foundation of Hope for Research & Treatment of Mental Illness is a registered charity in United States, based in Raleigh, NC. It received its IRS tax-exemption ruling in August 1985, 41 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 December 2023, The Foundation of Hope for Research & Treatment of Mental Illness reported income of $3.4m and spending of $1.8m, leaving 48% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.6m to $3.4m (+115%), an average of +21% a year. The sharpest change came in the year to December 2021, when income rose by 82%. Over the whole period it spent 60% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, The Foundation of Hope for Research & Treatment of Mental Illness sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 91st percentile within NC. Charities of a similar size with the same main cause include Center for Southeast Asians ($3.4m), Wscadv ($3.4m) and Faculty Student Association of Downstate Medical Center Inc ($3.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 72% of the total. Compensation of current officers, directors and key employees was $96k (5.4% of expenses). Other salaries and wages came to $221k. At year end it held assets of $10.2m against liabilities of $0, net assets of $10.2m. It reported 16 employees.