Elevate Hope House

Analysis

Elevate Hope House is a registered charity in United States, based in Ramsey, MN. It received its IRS tax-exemption ruling in July 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending January 2024, Elevate Hope House reported income of $57k and spending of $88k, spending 153% of what it took in. Across the 2 years on record, from January 2023 to January 2024, income fell from $106k to $57k (-46%), an average of -46% a year. The sharpest change came in the year to January 2024, when income dropped by 46%. Over the whole period it spent 105% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Elevate Hope House sits at the 20th percentile: it is larger than about 20% of them. Against every charity in United States with reported income it ranks in the 22nd percentile, and in the 19th percentile within MN. Charities of a similar size with the same main cause include Nellie Prather Foundation ($57k), Washington Avenue Apartments Corp ($57k) and Front Row Foundation Corp ($57k).

On its Form 990-EZ for the period ending January 2024, revenue came from contributions and grants 58% and program service revenue 25% of the total. At year end it held assets of $124k against liabilities of $7,764, net assets of $117k.