Farm for Hope Inc

Analysis

Farm for Hope Inc is a registered charity in United States, based in Vandiver, AL. It received its IRS tax-exemption ruling in July 2021, 5 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, Farm for Hope Inc reported income of $433k and spending of $306k, leaving 29% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income fell from $648k to $433k (-33%), an average of -33% a year. The sharpest change came in the year to December 2023, when income dropped by 33%. Over the whole period it spent 51% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Farm for Hope Inc sits at the 65th percentile: it is larger than about 65% of them. Against every charity in United States with reported income it ranks in the 68th percentile, and in the 70th percentile within AL. Charities of a similar size with the same main cause include Pittsburg a Philip Randolph Institute Education Fund ($433k), Rockfield Foundation Incorporated ($433k) and Women Offshore Foundation ($433k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 76% of the total. Compensation of current officers, directors and key employees was $60k (20% of expenses). Other salaries and wages came to $77k. At year end it held assets of $531k against liabilities of $3,034, net assets of $528k. It reported 5 employees.