Hope House III Inc

Analysis

Hope House III Inc is a registered charity in United States, based in Boston, MA. It received its IRS tax-exemption ruling in January 2018, 8 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Hope House III Inc reported income of $163k and spending of $226k, spending 139% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $154k to $163k (+6.2%), an average of +1.5% a year. The sharpest change came in the year to June 2021, when income dropped by 24%. Over the whole period it spent 129% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Hope House III Inc sits at the 33rd percentile: it is larger than about 33% of them. Against every charity in United States with reported income it ranks in the 49th percentile, and in the 54th percentile within MA. Charities of a similar size with the same main cause include Roxbury Development Corporation ($163k), Stamford Affordable Homes Inc ($163k) and Roswell Homeless Coalition Inc ($163k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 99% of the total. Other salaries and wages came to $57k. At year end it held assets of $2.2m against liabilities of $2.3m, net assets of -$110k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.