Hope Academy

Analysis

Hope Academy is a registered charity in United States, based in Groveland, FL. It received its IRS tax-exemption ruling in June 1998, 28 years ago. The IRS classifies it as a church under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Hope Academy reported income of $1.5m and spending of $1.4m, spending 92% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $479k to $1.5m (+220%), an average of +34% a year. The sharpest change came in the year to June 2024, when income rose by 38%. Over the whole period it spent 95% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Hope Academy sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 85th percentile within FL. Charities of a similar size with the same main cause include Kwong Kow Chinese School ($1.5m), Premier Capital Corporation ($1.5m) and Ihsan Foundation for West Africa ($1.5m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 1.3% and program service revenue 99% of the total. Compensation of current officers, directors and key employees was $49k (3.5% of expenses). Other salaries and wages came to $647k. At year end it held assets of $1.6m against liabilities of $1.2m, net assets of $474k.