Hopes Legacy Equine Rescue Inc

Analysis

Hopes Legacy Equine Rescue Inc is a registered charity in United States, based in Afton, VA. It received its IRS tax-exemption ruling in September 2009, 17 years ago. 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, Hopes Legacy Equine Rescue Inc reported income of $1.1m and spending of $613k, leaving 44% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $317k to $1.1m (+246%), an average of +36% a year. The sharpest change came in the year to December 2021, when income rose by 80%. Over the whole period it spent 51% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Hopes Legacy Equine Rescue Inc sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 80th percentile within VA. Charities of a similar size with the same main cause include Developmental Services Support Foundation for Kern Inyo and Mono ($1.1m), Robert L Kyle Semi Independent Living Center ($1.1m) and Friends of Fai the Italian Environment Foundation Inc ($1.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 93% and program service revenue 4.5% of the total. Compensation of current officers, directors and key employees was $41k (6.7% of expenses). At year end it held assets of $2.4m against liabilities of $29k, net assets of $2.4m. It reported 7 employees.