Sound of Hope Radio Network Inc

Analysis

Sound of Hope Radio Network Inc is a registered charity in United States, based in San Francisco, CA. It received its IRS tax-exemption ruling in October 2004, 22 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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, Sound of Hope Radio Network Inc reported income of $6.4m and spending of $6.8m, spending 107% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $4.1m to $6.4m (+56%), an average of +12% a year. The sharpest change came in the year to December 2020, when income rose by 65%. Over the whole period it spent 109% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Sound of Hope Radio Network Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 94th percentile within CA. Charities of a similar size with the same main cause include Town Hall Foundation Inc ($6.4m), American College of Occupational and Environmental Medicine ($6.4m) and Jacob Burns Film Center Inc ($6.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 20% and program service revenue 69% of the total. Other salaries and wages came to $1.3m. At year end it held assets of $22.5m against liabilities of $3.9m, net assets of $18.7m. It reported 28 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.