Hope Vibes Inc

Analysis

Hope Vibes Inc is a registered charity in United States, based in Charlotte, NC. It received its IRS tax-exemption ruling in October 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2021, Hope Vibes Inc reported income of $291k and spending of $295k, spending 101% of its income. Across the 3 years on record, from December 2019 to December 2021, income grew from $87k to $291k (+233%), an average of +83% a year. The sharpest change came in the year to December 2020, when income rose by 153%. Over the whole period it spent 79% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Hope Vibes Inc sits at the 55th percentile: it is larger than about 55% of them. Against every charity in United States with reported income it ranks in the 61st percentile, and in the 60th percentile within NC. Charities of a similar size with the same main cause include Nest Nourish Everyone Sustainably Together ($291k), Pine Street Preschool ($291k) and Loving Bottoms Diaper Bank ($291k).

On its Form 990 for the period ending December 2021, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $73k (25% of expenses). Other salaries and wages came to $6,400. At year end it held assets of $227k against liabilities of $99k, net assets of $128k. It reported 4 employees.