New Hope for Families

Analysis

New Hope for Families is a registered charity in United States, based in Duluth, MN. It received its IRS tax-exemption ruling in September 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, New Hope for Families reported income of $176k and spending of $124k, leaving 29% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income fell from $632k to $176k (-72%), an average of -27% a year. The sharpest change came in the year to December 2020, when income dropped by 86%. Over the whole period it spent 39% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, New Hope for Families sits at the 45th percentile: it is larger than about 45% of them. Against every charity in United States with reported income it ranks in the 51st percentile, and in the 49th percentile within MN. Charities of a similar size with the same main cause include Loaves & Fishes ($176k), Marlborough Community Coalition Inc ($176k) and Colorado Juvenile Defender Center ($176k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 39% and program service revenue 27% of the total. At year end it held assets of $714k against liabilities of $0, net assets of $714k.