El Faro Aid for Hope

Analysis

El Faro Aid for Hope is a registered charity in United States, based in Lake Elsinore, CA. It received its IRS tax-exemption ruling in March 2018, 8 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 December 2023, El Faro Aid for Hope reported income of $75k and spending of $76k, spending 102% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $74k to $75k (+1.8%), an average of +1.8% a year. Over the whole period it spent 83% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, El Faro Aid for Hope sits at the 26th percentile: it is larger than about 26% of them. Against every charity in United States with reported income it ranks in the 29th percentile, and in the 31st percentile within CA. Charities of a similar size with the same main cause include Bba Foundation of Memphis Inc ($75k), RGP Foundation Incorporated ($75k) and Love Ministries International Inc ($75k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $40k against liabilities of $0, net assets of $40k.