Hope for Soky

Analysis

Hope for Soky is a registered charity in United States, based in Bowling Green, KY. It received its IRS tax-exemption ruling in March 2021, 5 years ago. Its declared purposes cover mental health and crisis intervention, which this site groups under health and saving lives. 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 June 2023, Hope for Soky reported income of $467k and spending of $398k, spending 85% of its income. Across the 3 years on record, from June 2021 to June 2023, income fell from $709k to $467k (-34%), an average of -19% a year. The sharpest change came in the year to June 2023, when income dropped by 25%. Over the whole period it spent 70% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Hope for Soky sits at the 54th percentile: it is larger than about 54% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 70th percentile within KY. Charities of a similar size with the same main cause include Coles Victory Lap ($467k), Society for Translational Oncology Inc ($467k) and Youtherapy Psychological Services Inc ($467k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 99% of the total. At year end it held assets of $578k against liabilities of $42k, net assets of $536k.