Hope Floats for Veterans

Analysis

Hope Floats for Veterans is a registered charity in United States, based in Clio, MI. It received its IRS tax-exemption ruling in May 2021, 5 years ago. Its declared purposes cover public and societal benefit, which this site groups under other charitable purposes. 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, Hope Floats for Veterans reported income of $80k and spending of $116k, spending 145% of what it took in. Across the 3 years on record, from December 2021 to December 2023, income grew from $63k to $80k (+26%), an average of +12% a year. The sharpest change came in the year to December 2022, when income rose by 71%. Over the whole period it spent 126% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Hope Floats for Veterans sits at the 31st percentile: it is larger than about 31% of them. Against every charity in United States with reported income it ranks in the 31st percentile, and in the 30th percentile within MI. Charities of a similar size with the same main cause include Friends of the Library of St Johns County Inc ($80k), Jacket Hoop Boosters Inc ($80k) and American Inns of Court Foundation ($80k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $794k against liabilities of $0, net assets of $794k.