Hope Haven Ministries Inc

Analysis

Hope Haven Ministries Inc is a registered charity in United States, based in Kingsport, TN. It received its IRS tax-exemption ruling in August 1990, 36 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 December 2022, Hope Haven Ministries Inc reported income of $351k and spending of $425k, spending 121% of what it took in. Across the 3 years on record, from December 2020 to December 2022, income grew from $336k to $351k (+4.5%), an average of +2.2% a year. Over the whole period it spent 91% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Hope Haven Ministries Inc sits at the 49th percentile: it is larger than about 49% of them. Against every charity in United States with reported income it ranks in the 64th percentile, and in the 66th percentile within TN. Charities of a similar size with the same main cause include Kona Housing Corporation 75-5995 Kuakini ($351k), Retiree Housing of Cedar Rapids Inc ($352k) and Montello Welcome Home Inc ($351k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 37% of the total. Compensation of current officers, directors and key employees was $50k (12% of expenses). Other salaries and wages came to $97k. At year end it held assets of $649k against liabilities of $457k, net assets of $192k. It reported 13 employees.