Restore Hope Ministries Inc

Analysis

Restore Hope Ministries Inc is a registered charity in United States, based in Tulsa, OK. It received its IRS tax-exemption ruling in June 1971, 55 years ago. The IRS classifies it as a church under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Restore Hope Ministries Inc reported income of $7.0m and spending of $6.5m, spending 93% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.5m to $7.0m (+381%), an average of +48% a year. The sharpest change came in the year to June 2021, when income rose by 491%. Over the whole period it spent 97% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Restore Hope Ministries Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 95th percentile within OK. Charities of a similar size with the same main cause include Bread & Roses Community Fund ($7.0m), Boy Scouts of America ($7.0m) and Good Shepherd Lutheran Home ($7.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $82k (1.3% of expenses). Other salaries and wages came to $431k. At year end it held assets of $5.8m against liabilities of $2.2m, net assets of $3.6m. It reported 16 employees.