Homes of Hope Inc

Analysis

Homes of Hope Inc is a registered charity in United States, based in Greenville, SC. It received its IRS tax-exemption ruling in August 1999, 27 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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 August 2023, Homes of Hope Inc reported income of $6.7m and spending of $7.4m, spending 110% of what it took in. Across the 5 years on record, from August 2019 to August 2023, income grew from $5.3m to $6.7m (+26%), an average of +6.0% a year. The sharpest change came in the year to August 2022, when income rose by 28%. Over the whole period it spent 88% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Homes of Hope Inc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 95th percentile within SC. Charities of a similar size with the same main cause include PPL Properties ($6.7m), Northeast Senior Health Corporation ($6.7m) and Regency Management Inc ($6.7m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 34% and program service revenue 65% of the total. Compensation of current officers, directors and key employees was $185k (2.5% of expenses). Other salaries and wages came to $1.5m. At year end it held assets of $52.9m against liabilities of $37.3m, net assets of $15.7m. It reported 30 employees.