New Hope Charities Inc

Analysis

New Hope Charities Inc is a registered charity in United States, based in West Palm BCH, FL. It received its IRS tax-exemption ruling in October 1989, 37 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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, New Hope Charities Inc reported income of $1.5m and spending of $1.8m, spending 120% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.6m to $1.5m (-5.7%), an average of -1.5% a year. The sharpest change came in the year to December 2020, when income dropped by 17%. Over the whole period it spent 124% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, New Hope Charities Inc sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 85th percentile within FL. Charities of a similar size with the same main cause include The Giving Circle ($1.5m), National Institute Forpharmaceutical Technology and Educa ($1.5m) and Singer Foundation ($1.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 81% of the total. Other salaries and wages came to $1.2m. At year end it held assets of $4.2m against liabilities of $48k, net assets of $4.2m. It reported 16 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.