Hope for the Home Ministries

Analysis

Hope for the Home Ministries is a registered charity in United States, based in Mount Vernon, TX. It received its IRS tax-exemption ruling in March 2001, 25 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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 for the Home Ministries reported income of $237k and spending of $286k, spending 121% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $187k to $237k (+27%), an average of +6.1% a year. The sharpest change came in the year to December 2021, when income rose by 34%. Over the whole period it spent 110% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Hope for the Home Ministries sits at the 69th percentile: it is larger than about 69% of them. Against every charity in United States with reported income it ranks in the 57th percentile, and in the 61st percentile within TX. Charities of a similar size with the same main cause include Immersion Outfitters Inc ($237k), Soulwell Ministries ($237k) and Khanh Anh Buddhist Association ($237k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% of the total. Compensation of current officers, directors and key employees was $50k (18% of expenses). Other salaries and wages came to $88k. At year end it held assets of $471k against liabilities of $7,615, net assets of $464k. It reported 3 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.