Ladies of Hope Ministries Inc

Analysis

Ladies of Hope Ministries Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in June 2019, 7 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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, Ladies of Hope Ministries Inc reported income of $2.7m and spending of $2.5m, spending 92% of its income. Across the 4 years on record, from December 2019 to December 2023, income grew from $812k to $2.7m (+230%), an average of +49% a year. The sharpest change came in the year to December 2022, when income rose by 193%. Over the whole period it spent 99% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Ladies of Hope Ministries Inc sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 85th percentile within NY. Charities of a similar size with the same main cause include Centro Partnership San Antonio ($2.7m), Resolution Project Inc ($2.7m) and Dorchester Bay Nieghborhood Loan Fund Inc ($2.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% and program service revenue 0.2% of the total. Compensation of current officers, directors and key employees was $311k (13% of expenses). Other salaries and wages came to $575k. At year end it held assets of $1.6m against liabilities of $851k, net assets of $789k. It reported 19 employees.