Hope Family Services Inc

Analysis

Hope Family Services Inc is a registered charity in United States, based in Bradenton, FL. It received its IRS tax-exemption ruling in March 1981, 45 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 June 2023, Hope Family Services Inc reported income of $2.7m and spending of $3.0m, spending 110% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.4m to $2.7m (+14%), an average of +3.2% a year. The sharpest change came in the year to June 2021, when income rose by 19%. Over the whole period it spent 101% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Hope Family Services Inc sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 90th percentile within FL. Charities of a similar size with the same main cause include American Association of Cardiovascular & Pulmonary Rehab ($2.7m), Acta Materialia Incorporated ($2.7m) and Queens Library Foundation Inc ($2.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 89% of the total. Compensation of current officers, directors and key employees was $289k (9.6% of expenses). Other salaries and wages came to $1.6m. At year end it held assets of $4.1m against liabilities of $184k, net assets of $3.9m. It reported 47 employees.