My Sea Hope

Analysis

My Sea Hope is a registered charity in United States, based in Alamance, NC. It received its IRS tax-exemption ruling in August 2019, 7 years ago. Its declared purposes cover public safety, disaster preparedness and relief, which this site groups under armed forces, emergency and public safety. 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, My Sea Hope reported income of $208k and spending of $202k, spending 97% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $346k to $208k (-40%), an average of -12% a year. The sharpest change came in the year to December 2023, when income rose by 48%. Over the whole period it spent 62% of the income it received.

Among 9,128 United States charities whose main cause is armed forces, emergency and public safety and that reported income, My Sea Hope sits at the 61st percentile: it is larger than about 61% of them. Against every charity in United States with reported income it ranks in the 55th percentile, and in the 52nd percentile within NC. Charities of a similar size with the same main cause include North Middleton Township Volunteer Fire Co No 1 ($208k), Southwest Bartholomew Volunteer Fire Department Inc ($208k) and Back the Back Blue Buckhead Inc ($208k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $405k against liabilities of $0, net assets of $405k.