Treasure of Hope Inc

Analysis

Treasure of Hope Inc is a registered charity in United States, based in Springfield, MA. It received its IRS tax-exemption ruling in June 2012, 14 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 2022, Treasure of Hope Inc reported income of $52k and spending of $395k, spending 761% of what it took in. Across the 4 years on record, from December 2019 to December 2022, income fell from $497k to $52k (-90%), an average of -53% a year. The sharpest change came in the year to December 2022, when income dropped by 81%. Over the whole period it spent 132% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Treasure of Hope Inc sits at the 18th percentile: it is larger than about 18% of them. Against every charity in United States with reported income it ranks in the 20th percentile, and in the 29th percentile within MA. Charities of a similar size with the same main cause include Red Stick Roller Derby ($52k), Orange Grove Development No Five Inc ($52k) and J C Care Inc ($52k).

On its Form 990 for the period ending December 2022, revenue came from program service revenue 98% of the total. Compensation of current officers, directors and key employees was $165k (42% of expenses). Other salaries and wages came to $12k. At year end it held assets of $423k against liabilities of $829k, net assets of -$405k. It reported 2 employees.