Network for Hope Inc

Analysis

Network for Hope Inc is a registered charity in United States, based in Louisville, KY. It received its IRS tax-exemption ruling in December 1987, 39 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Network for Hope Inc reported income of $52.7m and spending of $51.2m, spending 97% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $22.2m to $52.7m (+137%), an average of +24% a year. The sharpest change came in the year to December 2020, when income rose by 31%. Over the whole period it spent 94% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Network for Hope Inc sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 98th percentile within KY. Charities of a similar size with the same main cause include Fostoria Hospital Association ($52.5m), Society of Photo Optical Instrumentation Engineer ($52.7m) and Joseph P Addabbo Family Health Center Inc ($52.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.3% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $1.4m (2.8% of expenses). Other salaries and wages came to $17.8m. At year end it held assets of $47.5m against liabilities of $22.0m, net assets of $25.5m. It reported 197 employees.