St Hope Development Company

Analysis

St Hope Development Company is a registered charity in United States, based in Sacramento, CA. It received its IRS tax-exemption ruling in February 2002, 24 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 June 2023, St Hope Development Company reported income of $491k and spending of $703k, spending 143% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $458k to $491k (+7.0%), an average of +1.7% a year. The sharpest change came in the year to June 2021, when income dropped by 100%. Over the whole period it spent 126% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, St Hope Development Company sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 71st percentile within CA. Charities of a similar size with the same main cause include Nice Twice Resale Shoppe Inc ($490k), Hilltop Economic Development Corporation ($491k) and Albany Center for Economic Success Inc ($490k).

Other salaries and wages came to $339k. At year end it held assets of $7.1m against liabilities of $9.0m, net assets of -$1.8m. It reported 8 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.