Hope for Tomorrow Foundation

Analysis

Hope for Tomorrow Foundation is a registered charity in United States, based in Portsmouth, NH. It received its IRS tax-exemption ruling in February 2017, 9 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Hope for Tomorrow Foundation reported income of $3.2m and spending of $3.5m, spending 106% of what it took in. Across the 6 years on record, from June 2019 to June 2024, income grew from $1.8m to $3.2m (+78%), an average of +12% a year. The sharpest change came in the year to June 2021, when income rose by 243%. Over the whole period it spent 76% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Hope for Tomorrow Foundation sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 91st percentile within NH. Charities of a similar size with the same main cause include Cincinnati Center for Autism ($3.2m), Albemarle Alliance for Children and Families Inc ($3.3m) and Christ Academy ($3.2m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 11% and program service revenue 87% of the total. Compensation of current officers, directors and key employees was $234k (6.8% of expenses). Other salaries and wages came to $1.6m. At year end it held assets of $16.0m against liabilities of $1.5m, net assets of $14.5m. It reported 71 employees.