Building Hope Inc

Analysis

Building Hope Inc is a registered charity in United States, based in Litchfield, MN. It received its IRS tax-exemption ruling in August 2016, 10 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Building Hope Inc reported income of $715k and spending of $660k, spending 92% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $384k to $715k (+86%), an average of +17% a year. The sharpest change came in the year to December 2023, when income rose by 64%. Over the whole period it spent 94% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Building Hope Inc sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 74th percentile within MN. Charities of a similar size with the same main cause include Rosas Child Development Center ($715k), Samaritan House ($715k) and City Greens Market ($715k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 11% and program service revenue 89% of the total. Compensation of current officers, directors and key employees was $45k (6.8% of expenses). Other salaries and wages came to $438k. At year end it held assets of $393k against liabilities of $160k, net assets of $233k. It reported 44 employees.