Hope Cottage Inc

Analysis

Hope Cottage Inc is a registered charity in United States, based in Dallas, TX. It received its IRS tax-exemption ruling in December 1942, 84 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Hope Cottage Inc reported income of $3.5m and spending of $2.0m, leaving 43% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.6m to $3.5m (+124%), an average of +22% a year. The sharpest change came in the year to December 2023, when income rose by 113%. Over the whole period it spent 93% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Hope Cottage Inc sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 92nd percentile within TX. Charities of a similar size with the same main cause include Kokomo Rescue Mission ($3.5m), Creative Supports Inc ($3.5m) and Society of St Vincent de Paul Particular Council of San Mateo ($3.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 76% and program service revenue 22% of the total. Compensation of current officers, directors and key employees was $150k (7.6% of expenses). Other salaries and wages came to $957k. At year end it held assets of $10.5m against liabilities of $270k, net assets of $10.2m. It reported 23 employees.