New Hope Thrift

Analysis

New Hope Thrift is a registered charity in United States, based in Batesburg, SC. It received its IRS tax-exemption ruling in April 2020, 6 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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 Thrift reported income of $336k and spending of $291k, spending 87% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $130k to $336k (+158%), an average of +27% a year. The sharpest change came in the year to December 2020, when income rose by 85%. Over the whole period it spent 54% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, New Hope Thrift sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 64th percentile, and in the 68th percentile within SC. Charities of a similar size with the same main cause include Bethlehem Ministry Inc ($335k), American Indians Against Abuse ($336k) and Latrobe Store ($335k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $161k (55% of expenses). Other salaries and wages came to $22k. At year end it held assets of $635k against liabilities of $117k, net assets of $519k. It reported 17 employees.