Growing Hope Inc

Analysis

Growing Hope Inc is a registered charity in United States, based in Ypsilanti, MI. It received its IRS tax-exemption ruling in January 2004, 22 years ago. Its declared purposes cover youth development, which this site groups under children and youth development. 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, Growing Hope Inc reported income of $871k and spending of $821k, spending 94% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $746k to $871k (+17%), an average of +4.0% a year. The sharpest change came in the year to December 2020, when income rose by 45%. Over the whole period it spent 79% of the income it received.

Among 14,332 United States charities whose main cause is children and youth development and that reported income, Growing Hope Inc sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 78th percentile within MI. Charities of a similar size with the same main cause include Transforming Youth Movement ($870k), Caleb Cares Inc ($872k) and Jackson Optimist Charitable Fund Inc ($870k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 87% and program service revenue 12% of the total. Compensation of current officers, directors and key employees was $70k (8.5% of expenses). Other salaries and wages came to $395k. At year end it held assets of $1.9m against liabilities of $186k, net assets of $1.7m. It reported 29 employees.