Place of Hope Inc

Analysis

Place of Hope Inc is a registered charity in United States, based in West Palm BCH, FL. It received its IRS tax-exemption ruling in August 1998, 28 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, Place of Hope Inc reported income of $15.9m and spending of $27.4m, spending 173% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $13.2m to $15.9m (+20%), an average of +4.8% a year. The sharpest change came in the year to December 2022, when income rose by 77%. Over the whole period it spent 76% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Place of Hope Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 97th percentile within FL. Charities of a similar size with the same main cause include Center for Family Support New Jersey Inc ($15.9m), Oparc ($15.9m) and Israeli-American Council ($15.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 103% of the total. Compensation of current officers, directors and key employees was $579k (2.1% of expenses). Other salaries and wages came to $3.5m. At year end it held assets of $33.6m against liabilities of $1.5m, net assets of $32.2m. It reported 105 employees.