Hope Ventures Inc

Analysis

Hope Ventures Inc is a registered charity in United States, based in Pasadena, CA. It received its IRS tax-exemption ruling in August 2017, 9 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 Ventures Inc reported income of $265k and spending of $261k, spending 98% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $249k to $265k (+6.3%), an average of +6.3% a year. Over the whole period it spent 82% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Hope Ventures Inc sits at the 54th percentile: it is larger than about 54% of them. Against every charity in United States with reported income it ranks in the 59th percentile, and in the 62nd percentile within CA. Charities of a similar size with the same main cause include Samanthas House Foundation Inc ($265k), Plush Meadow Senior Housing Corporation ($265k) and Los Angeles Pregnancy Services Inc ($265k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 59% and program service revenue 28% of the total. Compensation of current officers, directors and key employees was $70k (27% of expenses). Other salaries and wages came to $45k. At year end it held assets of $173k against liabilities of $5,074, net assets of $168k. It reported 3 employees.