Housing for New Hope Inc

Analysis

Housing for New Hope Inc is a registered charity in United States, based in Durham, NC. It received its IRS tax-exemption ruling in February 1994, 32 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, Housing for New Hope Inc reported income of $3.0m and spending of $3.0m, spending 100% of its income. Across the 5 years on record, from August 2019 to August 2023, income grew from $2.5m to $3.0m (+22%), an average of +5.0% a year. The sharpest change came in the year to August 2021, when income rose by 45%. Over the whole period it spent 95% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Housing for New Hope Inc sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 90th percentile within NC. Charities of a similar size with the same main cause include Idaho Housing Foundation Inc ($3.0m), Duncan Group ($3.0m) and Drake House Inc ($3.0m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 90% and program service revenue 9.9% of the total. Compensation of current officers, directors and key employees was $146k (4.8% of expenses). Other salaries and wages came to $1.1m. At year end it held assets of $12.2m against liabilities of $7.9m, net assets of $4.3m. It reported 36 employees.