Hope Housing of Miami Inc

Analysis

Hope Housing of Miami Inc is a registered charity in United States, based in Vinita, OK. It received its IRS tax-exemption ruling in February 1996, 30 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Hope Housing of Miami Inc reported income of $188k and spending of $211k, spending 112% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $154k to $188k (+22%), an average of +5.0% a year. The sharpest change came in the year to June 2020, when income rose by 22%. Over the whole period it spent 116% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Hope Housing of Miami Inc sits at the 47th percentile: it is larger than about 47% of them. Against every charity in United States with reported income it ranks in the 52nd percentile, and in the 53rd percentile within OK. Charities of a similar size with the same main cause include Peace Center Inc Food & Clothing Distribution ($188k), Putney Foodshelf Incorporated ($188k) and Hospice of Wichita Falls Inc Support TR ($188k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 72% and program service revenue 28% of the total. Other salaries and wages came to $40k. At year end it held assets of $390k against liabilities of $949k, net assets of -$559k. It reported 2 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.