Hope Center for Children

Analysis

Hope Center for Children is a registered charity in United States, based in Spartanburg, SC. It received its IRS tax-exemption ruling in May 1976, 50 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 September 2023, Hope Center for Children reported income of $4.8m and spending of $4.0m, spending 83% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $3.7m to $4.8m (+31%), an average of +6.9% a year. The sharpest change came in the year to September 2023, when income rose by 29%. Over the whole period it spent 97% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Hope Center for Children sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 94th percentile within SC. Charities of a similar size with the same main cause include Aealas of Ohio Inc ($4.8m), Western Pennsylvania Operating Engineers & Joint Apprenticeship ($4.8m) and Pennsylvania Association for the Blind ($4.8m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 93% of the total. Compensation of current officers, directors and key employees was $96k (2.4% of expenses). Other salaries and wages came to $2.5m. At year end it held assets of $5.2m against liabilities of $333k, net assets of $4.8m. It reported 85 employees.