The Hope for Families Center Inc

Analysis

The Hope for Families Center Inc is a registered charity in United States, based in Vero Beach, FL. It received its IRS tax-exemption ruling in August 1992, 34 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, The Hope for Families Center Inc reported income of $4.3m and spending of $1.2m, leaving 71% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.0m to $4.3m (+117%), an average of +21% a year. The sharpest change came in the year to June 2023, when income rose by 177%. Over the whole period it spent 51% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, The Hope for Families Center Inc sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 92nd percentile within FL. Charities of a similar size with the same main cause include Ahavas Tzedokos Corp ($4.3m), Community United Child Care Centers Inc ($4.3m) and Central New York Quest Incorporated ($4.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 99% and program service revenue 0.4% of the total. Other salaries and wages came to $598k. It paid $74k in professional fundraising fees. At year end it held assets of $6.7m against liabilities of $34k, net assets of $6.6m. It reported 41 employees.