Penfield Hope Inc

Analysis

Penfield Hope Inc is a registered charity in United States, based in Penfield, NY. It received its IRS tax-exemption ruling in November 2021, 5 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Penfield Hope Inc reported income of $449k and spending of $145k, leaving 68% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $109k to $449k (+311%), an average of +310% a year. The sharpest change came in the year to December 2023, when income rose by 311%. Over the whole period it spent 48% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Penfield Hope Inc sits at the 63rd percentile: it is larger than about 63% of them. Against every charity in United States with reported income it ranks in the 68th percentile, and in the 65th percentile within NY. Charities of a similar size with the same main cause include Coconut Grove Cares Inc ($449k), Starkville Pregnancy Care Center ($449k) and Gods Hands Academy ($449k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $41k (28% of expenses). At year end it held assets of $388k against liabilities of $0, net assets of $388k.