Hope Center Inc

Analysis

Hope Center Inc is a registered charity in United States, based in Lexington, KY. It received its IRS tax-exemption ruling in December 1986, 40 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 June 2023, Hope Center Inc reported income of $9.4m and spending of $8.8m, spending 94% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $7.6m to $9.4m (+25%), an average of +5.7% a year. The sharpest change came in the year to June 2020, when income rose by 17%. Over the whole period it spent 98% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Hope Center Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 94th percentile within KY. Charities of a similar size with the same main cause include Shelterhouse Volunteer Group ($9.4m), Bickerdike Redevelopment Corporation ($9.5m) and Housing and Services Inc ($9.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 54% and program service revenue 45% of the total. Compensation of current officers, directors and key employees was $376k (4.2% of expenses). Other salaries and wages came to $3.2m. It paid $39k in professional fundraising fees. At year end it held assets of $16.8m against liabilities of $1.9m, net assets of $14.9m. It reported 119 employees.