Hope Family Ministries Inc

Analysis

Hope Family Ministries Inc is a registered charity in United States, based in Tupelo, MS. It received its IRS tax-exemption ruling in October 1995, 31 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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, Hope Family Ministries Inc reported income of $242k and spending of $255k, spending 105% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $276k to $242k (-12%), an average of -3.2% a year. The sharpest change came in the year to December 2022, when income dropped by 30%. Over the whole period it spent 105% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Hope Family Ministries Inc sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 58th percentile, and in the 60th percentile within MS. Charities of a similar size with the same main cause include Chinese International Missions Inc ($242k), Ekklesia Bible Ministry Inc ($242k) and Renewed Ministries ($242k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 93% and program service revenue 6.8% of the total. Compensation of current officers, directors and key employees was $106k (42% of expenses). Other salaries and wages came to $91k. At year end it held assets of $206k against liabilities of $11k, net assets of $195k. It reported 5 employees.