The Lighthouse Group Beacon of Hope Inc

Analysis

The Lighthouse Group Beacon of Hope Inc is a registered charity in United States, based in Miami, FL. It received its IRS tax-exemption ruling in September 2013, 13 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 December 2023, The Lighthouse Group Beacon of Hope Inc reported income of $2.0m and spending of $2.1m, spending 106% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.4m to $2.0m (+39%), an average of +8.5% a year. The sharpest change came in the year to December 2022, when income rose by 77%. Over the whole period it spent 85% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, The Lighthouse Group Beacon of Hope Inc sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 88th percentile within FL. Charities of a similar size with the same main cause include Childrens Home Society of Virginia ($2.0m), Kids International Ministries Inc ($2.0m) and GSH Inc ($2.0m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Compensation of current officers, directors and key employees was $152k (7.3% of expenses). Other salaries and wages came to $1.1m. At year end it held assets of $1.7m against liabilities of $899k, net assets of $844k. It reported 54 employees.