Hopeful Journeys Educational Center Inc

Analysis

Hopeful Journeys Educational Center Inc is a registered charity in United States, based in Beverly, MA. It received its IRS tax-exemption ruling in July 2010, 16 years ago. Its declared purposes cover education, which this site groups under education and training. 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 June 2023, Hopeful Journeys Educational Center Inc reported income of $16.5m and spending of $14.9m, spending 90% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $12.4m to $16.5m (+34%), an average of +7.5% a year. Over the whole period it spent 86% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Hopeful Journeys Educational Center Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 96th percentile within MA. Charities of a similar size with the same main cause include National Association for Communitycollege Entrepreneurship Inc ($16.5m), Fort Hays State University Foundation ($16.5m) and Denver Scholarship Foundation ($16.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 12% and program service revenue 90% of the total. Compensation of current officers, directors and key employees was $1.2m (7.9% of expenses). Other salaries and wages came to $10.3m. At year end it held assets of $23.6m against liabilities of $10.4m, net assets of $13.2m. It reported 208 employees.