Restore Hope Resources Inc

Analysis

Restore Hope Resources Inc is a registered charity in United States, based in Sebring, FL. It received its IRS tax-exemption ruling in September 2020, 6 years ago. Its declared purposes cover employment, which this site groups under community and economic development. 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, Restore Hope Resources Inc reported income of $344k and spending of $329k, spending 96% of its income. Across the 6 years on record, from December 2017 to December 2023, income grew from $5,531 to $344k (+6112%), an average of +128% a year. The sharpest change came in the year to December 2018, when income rose by 2772%. Over the whole period it spent 95% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Restore Hope Resources Inc sits at the 61st percentile: it is larger than about 61% of them. Against every charity in United States with reported income it ranks in the 64th percentile, and in the 67th percentile within FL. Charities of a similar size with the same main cause include River Oaks Foundation Inc ($343k), Urban Summit Incorporated ($344k) and Justjobs Network Inc ($343k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $221k (67% of expenses). Other salaries and wages came to $23k. At year end it held assets of $68k against liabilities of $528, net assets of $67k. It reported 36 employees.