Hope Inc

Analysis

Hope Inc is a registered charity in United States, based in Rock Hill, SC. It received its IRS tax-exemption ruling in October 1983, 43 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, Hope Inc reported income of $2.5m and spending of $2.4m, spending 97% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.0m to $2.5m (+146%), an average of +25% a year. The sharpest change came in the year to December 2020, when income rose by 52%. Over the whole period it spent 90% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Hope Inc sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 90th percentile within SC. Charities of a similar size with the same main cause include Little Saint Nick Foundation Inc ($2.5m), Muscatine Community Y ($2.5m) and Abundant Life Ministry ($2.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $1.1m against liabilities of $102k, net assets of $953k.