Hope for Kids Childcare Center

Analysis

Hope for Kids Childcare Center is a registered charity in United States, based in Duluth, MN. It received its IRS tax-exemption ruling in June 2020, 6 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a supporting organisation (type i) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Hope for Kids Childcare Center reported income of $830k and spending of $724k, spending 87% of its income. Across the 4 years on record, from December 2020 to December 2023, income grew from $251k to $830k (+230%), an average of +49% a year. The sharpest change came in the year to December 2021, when income rose by 158%. Over the whole period it spent 94% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Hope for Kids Childcare Center sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 76th percentile within MN. Charities of a similar size with the same main cause include 100 Acre Wood Daycare Inc ($830k), Ranfurly Homes for Childreninc ($830k) and Charlenes Angels ($830k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 14% and program service revenue 86% of the total. Compensation of current officers, directors and key employees was $46k (6.4% of expenses). Other salaries and wages came to $430k. At year end it held assets of $241k against liabilities of $51k, net assets of $190k. It reported 53 employees.