The Hope Foundation

Analysis

The Hope Foundation is a registered charity in United States, based in Ann Arbor, MI. It received its IRS tax-exemption ruling in August 1993, 33 years ago. Its declared purposes cover diseases, disorders and medical disciplines, which this site groups under health and saving lives. 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, The Hope Foundation reported income of $15.1m and spending of $11.4m, leaving 24% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $9.1m to $15.1m (+66%), an average of +14% a year. The sharpest change came in the year to December 2023, when income rose by 52%. Over the whole period it spent 91% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, The Hope Foundation sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within MI. Charities of a similar size with the same main cause include Vna Home Health & Hospice Services Inc ($15.0m), Ohiohealth Corporation ($15.1m) and Presbyterian Home Quitman Inc ($15.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 43% and program service revenue 44% of the total. Compensation of current officers, directors and key employees was $291k (2.6% of expenses). Other salaries and wages came to $4.3m. At year end it held assets of $62.3m against liabilities of $23.2m, net assets of $39.1m. It reported 65 employees.