Hope Floats Foundation Inc

Analysis

Hope Floats Foundation Inc is a registered charity in United States, based in Simsbury, CT. It received its IRS tax-exemption ruling in March 2017, 9 years ago. Its declared purposes cover recreation and sports, which this site groups under amateur sport and recreation. 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, Hope Floats Foundation Inc reported income of $504k and spending of $492k, spending 98% of its income. Across the 4 years on record, from December 2020 to December 2023, income grew from $271k to $504k (+86%), an average of +23% a year. The sharpest change came in the year to December 2021, when income rose by 47%. Over the whole period it spent 80% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Hope Floats Foundation Inc 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 70th percentile, and in the 68th percentile within CT. Charities of a similar size with the same main cause include Dragon Youth Football Inc ($504k), Erie Youth Hockey Association ($504k) and Minocqua Winter Park Trail Fund Corporation ($504k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 90% of the total. Compensation of current officers, directors and key employees was $92k (19% of expenses). At year end it held assets of $421k against liabilities of $9,496, net assets of $412k. It reported 2 employees.