Hope Housing Development Corporation

Analysis

Hope Housing Development Corporation is a registered charity in United States, based in Waycross, GA. It received its IRS tax-exemption ruling in December 1973, 53 years ago. 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 October 2022, Hope Housing Development Corporation reported income of $500k and spending of $327k, leaving 35% of income unspent that year. Across the 4 years on record, from October 2019 to October 2022, income grew from $369k to $500k (+35%), an average of +11% a year. The sharpest change came in the year to October 2022, when income rose by 79%. Over the whole period it spent 93% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Hope Housing Development Corporation sits at the 68th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 74th percentile within GA. Charities of a similar size with the same main cause include Victory Christian Academy Inc ($500k), Pennsylvania Junior Academy of Science ($500k) and Gesu Endowment Fund ($500k).

On its Form 990 for the period ending October 2022, revenue came from contributions and grants 0.0% and program service revenue 54% of the total. Other salaries and wages came to $134k. At year end it held assets of $975k against liabilities of $3,976, net assets of $971k. It reported 5 employees.