Hopes Promise

Analysis

Hopes Promise is a registered charity in United States, based in Castle Rock, CO. It received its IRS tax-exemption ruling in January 1992, 34 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Hopes Promise reported income of $1.4m and spending of $1.5m, spending 109% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.1m to $1.4m (+29%), an average of +6.5% a year. The sharpest change came in the year to December 2021, when income rose by 49%. Over the whole period it spent 97% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Hopes Promise sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 82nd percentile within CO. Charities of a similar size with the same main cause include Imgn Communities Inc ($1.4m), Partners in Home Care Inc ($1.4m) and Boone County Senior Services Inc ($1.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 63% and program service revenue 34% of the total. Compensation of current officers, directors and key employees was $98k (6.6% of expenses). Other salaries and wages came to $672k. At year end it held assets of $1.3m against liabilities of $602k, net assets of $743k. It reported 20 employees.