Hope for the Future Inc

Analysis

Hope for the Future Inc is a registered charity in United States, based in Oklahoma City, OK. It received its IRS tax-exemption ruling in February 2003, 23 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 December 2023, Hope for the Future Inc reported income of $217k and spending of $176k, spending 81% of its income. Across the 3 years on record, from December 2021 to December 2023, income fell from $228k to $217k (-4.7%), an average of -2.4% a year. The sharpest change came in the year to December 2022, when income dropped by 17%. Over the whole period it spent 74% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Hope for the Future Inc sits at the 50th percentile: it is larger than about 50% of them. Against every charity in United States with reported income it ranks in the 56th percentile, and in the 57th percentile within OK. Charities of a similar size with the same main cause include JKV Foundation Inc ($217k), Texas Grandparents Raising Inc Grandchildren ($217k) and Eighth Day Farm Inc ($217k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $70k (40% of expenses). Other salaries and wages came to $24k. At year end it held assets of $233k against liabilities of $1,358, net assets of $231k. It reported 3 employees.