Hope585

Analysis

Hope585 is a registered charity in United States, based in Rochester, NY. It received its IRS tax-exemption ruling in May 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, Hope585 reported income of $1.6m and spending of $989k, leaving 39% of income unspent that year. Across the 3 years on record, from December 2021 to December 2023, income grew from $236k to $1.6m (+585%), an average of +162% a year. The sharpest change came in the year to December 2022, when income rose by 209%. Over the whole period it spent 60% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Hope585 sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 81st percentile within NY. Charities of a similar size with the same main cause include The Gift of Learning Foundation Inc ($1.6m), Old Concho Community Assistance Center ($1.6m) and Families Especial Inc ($1.6m).

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 $125k (13% of expenses). Other salaries and wages came to $343k. At year end it held assets of $1.6m against liabilities of $528k, net assets of $1.0m. It reported 17 employees.