Renew Hope

Analysis

Renew Hope is a registered charity in United States, based in Wyoming, MN. It received its IRS tax-exemption ruling in October 2017, 9 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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, Renew Hope reported income of $169k and spending of $165k, spending 98% of its income. Across the 3 years on record, from December 2021 to December 2023, income fell from $237k to $169k (-29%), an average of -16% a year. The sharpest change came in the year to December 2022, when income dropped by 34%. Over the whole period it spent 95% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Renew Hope sits at the 34th percentile: it is larger than about 34% of them. Against every charity in United States with reported income it ranks in the 50th percentile, and in the 48th percentile within MN. Charities of a similar size with the same main cause include Woodlands Supportive Housing Inc ($169k), Cahec Foundation ($169k) and Red Lake Senior Apartment Center Inc ($169k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 104% of the total. At year end it held assets of $352k against liabilities of $220k, net assets of $131k.