Mission of Hope Inc

Analysis

Mission of Hope Inc is a registered charity in United States, based in Knoxville, TN. It received its IRS tax-exemption ruling in December 1999, 27 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 December 2023, Mission of Hope Inc reported income of $2.8m and spending of $2.5m, spending 91% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $3.1m to $2.8m (-9.2%), an average of -2.4% a year. Over the whole period it spent 93% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Mission of Hope Inc sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 89th percentile within TN. Charities of a similar size with the same main cause include Beaver County Young Mens Christian Association ($2.8m), Toberman Neighborhood Center Inc ($2.8m) and Korean Community Service Center of ($2.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 97% of the total. Compensation of current officers, directors and key employees was $117k (4.6% of expenses). Other salaries and wages came to $169k. At year end it held assets of $3.2m against liabilities of $36k, net assets of $3.2m. It reported 5 employees.