Hopeworks Social Enterprises

Analysis

Hopeworks Social Enterprises is a registered charity in United States, based in Everett, WA. It received its IRS tax-exemption ruling in March 2012, 14 years ago. Its declared purposes cover employment, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2022, Hopeworks Social Enterprises reported income of $4.1m and spending of $3.6m, spending 90% of its income. Across the 4 years on record, from June 2019 to June 2022, income fell from $12.0m to $4.1m (-66%), an average of -30% a year. The sharpest change came in the year to June 2020, when income dropped by 77%. Over the whole period it spent 56% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Hopeworks Social Enterprises sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 92nd percentile within WA. Charities of a similar size with the same main cause include Nepa Inclusive ($4.0m), Cintrifuse ($4.1m) and Greater Cleveland Neighborhood Centers Association ($4.0m).

On its Form 990 for the period ending June 2022, revenue came from contributions and grants 75% and program service revenue 34% of the total. At year end it held assets of $20.3m against liabilities of $5.1m, net assets of $15.2m.