The Foundation for Hope Village

Analysis

The Foundation for Hope Village is a registered charity in United States, based in Friendswood, TX. It received its IRS tax-exemption ruling in November 1967, 59 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, The Foundation for Hope Village reported income of $2.4m and spending of $3.0m, spending 127% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $2.9m to $2.4m (-17%), an average of -4.4% a year. The sharpest change came in the year to December 2022, when income dropped by 21%. Over the whole period it spent 114% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, The Foundation for Hope Village sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 90th percentile within TX. Charities of a similar size with the same main cause include San Felipe Supported Living Inc ($2.4m), Arizona Housing Coalition ($2.4m) and Loretto Geriatric Community ($2.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 8.8% and program service revenue 63% of the total. Compensation of current officers, directors and key employees was $116k (3.8% of expenses). Other salaries and wages came to $1.6m. At year end it held assets of $11.1m against liabilities of $16k, net assets of $11.1m. It reported 67 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.