Hopeloft

Analysis

Hopeloft is a registered charity in United States, based in Bridgeton, NJ. It received its IRS tax-exemption ruling in June 2020, 6 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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, Hopeloft reported income of $1.1m and spending of $1.1m, spending 96% of its income. Across the 3 years on record, from December 2021 to December 2023, income grew from $205k to $1.1m (+452%), an average of +135% a year. The sharpest change came in the year to December 2022, when income rose by 271%. Over the whole period it spent 96% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Hopeloft 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 81st percentile, and in the 83rd percentile within NJ. Charities of a similar size with the same main cause include Worker Power Institute ($1.1m), Ocdc Inc ($1.1m) and Ciencia Puerto Rico Inc ($1.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 97% of the total. Compensation of current officers, directors and key employees was $77k (7.1% of expenses). Other salaries and wages came to $778k. At year end it held assets of $758k against liabilities of $627k, net assets of $131k. It reported 82 employees.