Center for Hope and Renewal Inc

Analysis

Center for Hope and Renewal Inc is a registered charity in United States, based in Jersey City, NJ. It received its IRS tax-exemption ruling in February 2022, 4 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, Center for Hope and Renewal Inc reported income of $1.3m and spending of $1.3m, spending 103% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $811k to $1.3m (+62%), an average of +62% a year. The sharpest change came in the year to December 2023, when income rose by 62%. Over the whole period it spent 100% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Center for Hope and Renewal Inc sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 85th percentile within NJ. Charities of a similar size with the same main cause include West End Ambulance Service Inc ($1.3m), Encore Programs Inc a Nonprofit Public Benefit Corporation ($1.3m) and Northeastern Utah Friends Against Family Violence ($1.3m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Compensation of current officers, directors and key employees was $145k (11% of expenses). Other salaries and wages came to $880k. At year end it held assets of $49k against liabilities of $22k, net assets of $27k. It reported 25 employees.