Hope Foundation of New Mexico Inc

Analysis

Hope Foundation of New Mexico Inc is a registered charity in United States, based in Albuquerque, NM. It received its IRS tax-exemption ruling in June 1986, 40 years ago. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending May 2023, Hope Foundation of New Mexico Inc reported income of $6.4m and spending of $9,285, leaving 100% of income unspent that year. Across the 5 years on record, from May 2019 to May 2023, income grew from $367k to $6.4m (+1638%), an average of +104% a year. The sharpest change came in the year to May 2023, when income rose by 1865%. Over the whole period it spent 8.1% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Hope Foundation of New Mexico Inc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 95th percentile within NM. Charities of a similar size with the same main cause include Silver Birch Ranch Inc ($6.4m), Friends Fiduciary Corporation ($6.4m) and National Christian Charitable Foundation Inc ($6.4m).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 1.5% of the total. At year end it held assets of $8.5m against liabilities of $1.6m, net assets of $6.9m. It reported 4 employees.