Spreading Hope Inc

Analysis

Spreading Hope Inc is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in November 2017, 9 years ago. Its declared purposes cover education, which this site groups under education and training. 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 August 2023, Spreading Hope Inc reported income of $164k and spending of $171k, spending 104% of its income. Across the 3 years on record, from August 2019 to August 2023, income fell from $452k to $164k (-64%), an average of -40% a year. The sharpest change came in the year to August 2022, when income dropped by 72%. Over the whole period it spent 66% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Spreading Hope Inc sits at the 50th percentile: it is larger than about 50% of them. Against every charity in United States with reported income it ranks in the 49th percentile, and in the 47th percentile within MN. Charities of a similar size with the same main cause include Scotts Valley Educational Foundation ($164k), International Perfume Bottle Association Inc ($164k) and Tony Alexander Memorial ($164k).

On its Form 990-EZ for the period ending August 2023, revenue came from contributions and grants 89% and program service revenue 10% of the total. At year end it held assets of $172k against liabilities of $2,412, net assets of $170k.