Hope Farm Inc

Analysis

Hope Farm Inc is a registered charity in United States, based in Fort Worth, TX. It received its IRS tax-exemption ruling in March 1992, 34 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 August 2023, Hope Farm Inc reported income of $4.6m and spending of $2.0m, leaving 56% of income unspent that year. Across the 5 years on record, from August 2019 to August 2023, income grew from $1.3m to $4.6m (+261%), an average of +38% a year. The sharpest change came in the year to August 2023, when income rose by 130%. Over the whole period it spent 78% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Hope Farm Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 94th percentile within TX. Charities of a similar size with the same main cause include Multi-Ethnic Collaborative of Community Agencies ($4.6m), The Young Mens Christian Assoc of Sidney and Shelby County ($4.6m) and East African Community Services ($4.6m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 98% and program service revenue 0.9% of the total. Compensation of current officers, directors and key employees was $241k (12% of expenses). Other salaries and wages came to $828k. At year end it held assets of $8.4m against liabilities of $123k, net assets of $8.3m. It reported 39 employees.