Cy-Hope Inc

Analysis

Cy-Hope Inc is a registered charity in United States, based in Cypress, TX. It received its IRS tax-exemption ruling in May 2019, 7 years ago. 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, Cy-Hope Inc reported income of $994k and spending of $1.1m, spending 112% of what it took in. Across the 6 years on record, from December 2018 to December 2023, income fell from $3.2m to $994k (-69%), an average of -21% a year. The sharpest change came in the year to December 2019, when income rose by 89%. Over the whole period it spent 97% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Cy-Hope Inc sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 83rd percentile within TX. Charities of a similar size with the same main cause include Silicon Valley Korean School Inc ($994k), Mane Stream Inc ($994k) and Catholic Charities of the Diocese of Pueblo Works Corp ($994k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% of the total. Compensation of current officers, directors and key employees was $75k (6.8% of expenses). Other salaries and wages came to $49k. At year end it held assets of $504k against liabilities of $6,404, net assets of $497k. It reported 21 employees.