We Are Sharing Hope SC

Analysis

We Are Sharing Hope SC is a registered charity in United States, based in Charleston, SC. It received its IRS tax-exemption ruling in March 2006, 20 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, We Are Sharing Hope SC reported income of $39.7m and spending of $39.0m, spending 98% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $27.7m to $39.7m (+43%), an average of +9.4% a year. The sharpest change came in the year to December 2021, when income rose by 18%. Over the whole period it spent 92% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, We Are Sharing Hope SC sits at the 99th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 99th percentile within SC. Charities of a similar size with the same main cause include Sir Mortimer B Davis Jewish General Hospital Foundation ($39.6m), Minneapolis Jewish Federation ($39.8m) and Foundation for Advanced Philanthrophy ($39.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.1% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $1.1m (2.7% of expenses). Other salaries and wages came to $9.7m. At year end it held assets of $53.1m against liabilities of $24.2m, net assets of $28.9m. It reported 112 employees.