Hope Communities Inc

Analysis

Hope Communities Inc is a registered charity in United States, based in Denver, CO. It received its IRS tax-exemption ruling in April 1981, 45 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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, Hope Communities Inc reported income of $4.6m and spending of $5.6m, spending 121% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.1m to $4.6m (+117%), an average of +21% a year. The sharpest change came in the year to December 2021, when income rose by 48%. Over the whole period it spent 98% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Hope Communities Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 92nd percentile within CO. Charities of a similar size with the same main cause include Capitol Area Developments Inc ($4.6m), Eastern Connecticut Housing Opportunities Inc ($4.6m) and Rose Community Development Corporation ($4.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 25% and program service revenue 68% of the total. Compensation of current officers, directors and key employees was $182k (3.2% of expenses). Other salaries and wages came to $1.8m. At year end it held assets of $16.4m against liabilities of $9.3m, net assets of $7.0m. It reported 44 employees.