Hope for Life

Analysis

Hope for Life is a registered charity in United States, based in Seattle, WA. It received its IRS tax-exemption ruling in November 2017, 9 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Hope for Life reported income of $333k and spending of $419k, spending 126% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $636k to $333k (-48%), an average of -15% a year. The sharpest change came in the year to December 2023, when income dropped by 41%. Over the whole period it spent 95% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Hope for Life sits at the 58th percentile: it is larger than about 58% of them. Against every charity in United States with reported income it ranks in the 64th percentile, and in the 62nd percentile within WA. Charities of a similar size with the same main cause include Adult Disability Medical Healthcare Inc ($333k), Flagstaff Youth Riders Inc Flyrs ($333k) and Fci Too Inc ($333k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 104% of the total. Compensation of current officers, directors and key employees was $100k (24% of expenses). Other salaries and wages came to $63k. At year end it held assets of $264k against liabilities of $6,591, net assets of $257k. It reported 6 employees.