Hope of South Texas Inc

Analysis

Hope of South Texas Inc is a registered charity in United States, based in Victoria, TX. It received its IRS tax-exemption ruling in July 1986, 40 years ago. 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 August 2023, Hope of South Texas Inc reported income of $1.2m and spending of $1.0m, spending 88% of its income. Across the 5 years on record, from August 2019 to August 2023, income grew from $686k to $1.2m (+70%), an average of +14% a year. The sharpest change came in the year to August 2023, when income rose by 23%. Over the whole period it spent 91% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Hope of South Texas Inc sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 85th percentile within TX. Charities of a similar size with the same main cause include International Technology and Engineering Educators Association ($1.2m), Warren Library Association ($1.2m) and Himalayan Academy ($1.2m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 86% and program service revenue 5.0% of the total. Compensation of current officers, directors and key employees was $59k (5.7% of expenses). Other salaries and wages came to $518k. At year end it held assets of $715k against liabilities of $229k, net assets of $486k. It reported 13 employees.