Foundations for Hope Inc

Analysis

Foundations for Hope Inc is a registered charity in United States, based in Trussville, AL. It received its IRS tax-exemption ruling in October 2019, 7 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, Foundations for Hope Inc reported income of $759k and spending of $631k, spending 83% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $403k to $759k (+88%), an average of +17% a year. The sharpest change came in the year to December 2023, when income rose by 69%. Over the whole period it spent 50% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Foundations for Hope Inc sits at the 71st percentile: it is larger than about 71% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 79th percentile within AL. Charities of a similar size with the same main cause include Rockbridge Area Relief Association Incorporated ($759k), Sunrise Early Learning & Development Center ($759k) and Operation Bootstrap Inc ($759k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $114k (18% of expenses). Other salaries and wages came to $3,460. At year end it held assets of $1.1m against liabilities of $7,528, net assets of $1.1m. It reported 3 employees.