Streams of Hope

Analysis

Streams of Hope is a registered charity in United States, based in Grand Rapids, MI. It received its IRS tax-exemption ruling in June 2006, 20 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, Streams of Hope reported income of $2.0m and spending of $1.7m, spending 83% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $511k to $2.0m (+297%), an average of +41% a year. The sharpest change came in the year to December 2021, when income rose by 320%. Over the whole period it spent 72% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Streams of Hope sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 86th percentile within MI. Charities of a similar size with the same main cause include Center for Family Violence Prevention ($2.0m), Fannie Battle Day Home for Children Inc ($2.0m) and Treasures Ministries ($2.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 97% of the total. Compensation of current officers, directors and key employees was $99k (5.9% of expenses). Other salaries and wages came to $258k. At year end it held assets of $3.2m against liabilities of $440k, net assets of $2.8m. It reported 33 employees.