Ray of Hope Institute Inc

Analysis

Ray of Hope Institute Inc is a registered charity in United States, based in Haverstraw, NY. 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 December 2023, Ray of Hope Institute Inc reported income of $1.0m and spending of $941k, spending 91% of its income. Across the 3 years on record, from December 2021 to December 2023, income grew from $345k to $1.0m (+200%), an average of +73% a year. The sharpest change came in the year to December 2023, when income rose by 118%. Over the whole period it spent 86% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Ray of Hope Institute Inc sits at the 65th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 76th percentile within NY. Charities of a similar size with the same main cause include Ignite Collective Inc ($1.0m), Forensic Nursing Specialties Inc ($1.0m) and Simply Hope Family Outreach Inc ($1.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 96% and program service revenue 3.7% of the total. Compensation of current officers, directors and key employees was $158k (17% of expenses). Other salaries and wages came to $231k. At year end it held assets of $312k against liabilities of $52k, net assets of $260k. It reported 5 employees.