New Hope of Florence Inc

Analysis

New Hope of Florence Inc is a registered charity in United States, based in Florence, SC. It received its IRS tax-exemption ruling in March 1994, 32 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, New Hope of Florence Inc reported income of $125k and spending of $125k, spending 100% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $121k to $125k (+3.9%), an average of +3.9% a year. Over the whole period it spent 112% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, New Hope of Florence Inc sits at the 42nd percentile: it is larger than about 42% of them. Against every charity in United States with reported income it ranks in the 43rd percentile, and in the 48th percentile within SC. Charities of a similar size with the same main cause include St Vincent de Paul Store of Douglas Inc ($125k), Therapy Animals of San Antonio Inc ($125k) and Habitat for Humanity International Inc ($125k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 78% and program service revenue 22% of the total. At year end it held assets of $213k against liabilities of $642k, net assets of -$429k.