Hopeworks

Analysis

Hopeworks is a registered charity in United States, based in Albuquerque, NM. It received its IRS tax-exemption ruling in January 1986, 40 years ago. 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, Hopeworks reported income of $9.0m and spending of $8.8m, spending 98% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $9.5m to $9.0m (-5.5%), an average of -1.4% a year. The sharpest change came in the year to June 2020, when income rose by 28%. Over the whole period it spent 95% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Hopeworks sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 96th percentile within NM. Charities of a similar size with the same main cause include Starc of Louisiana Inc ($9.0m), Ohio Laborers Training and Apprenticeship Fund ($9.0m) and Sierra View Homes ($9.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 70% and program service revenue 29% of the total. Other salaries and wages came to $4.6m. At year end it held assets of $16.7m against liabilities of $11.0m, net assets of $5.7m. It reported 154 employees.