Source of Light and Hope Development Center Inc

Analysis

Source of Light and Hope Development Center Inc is a registered charity in United States, based in Fort Myers, FL. It received its IRS tax-exemption ruling in July 1988, 38 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, Source of Light and Hope Development Center Inc reported income of $1.0m and spending of $1.1m, spending 104% of its income. Across the 6 years on record, from December 2018 to December 2023, income grew from $724k to $1.0m (+43%), an average of +7.4% a year. The sharpest change came in the year to December 2021, when income rose by 52%. Over the whole period it spent 105% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Source of Light and Hope Development Center Inc sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 82nd percentile within FL. Charities of a similar size with the same main cause include Housing Services Alliance Inc ($1.0m), Kianga House Housing Development Fund Company Inc ($1.0m) and Generation W Inc ($1.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 96% of the total. At year end it held assets of $312k against liabilities of $242k, net assets of $69k.