Hope Chicago Inc

Analysis

Hope Chicago Inc is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in May 2021, 5 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, Hope Chicago Inc reported income of $10.7m and spending of $12.0m, spending 112% of what it took in. Across the 3 years on record, from June 2021 to June 2023, income grew from $10.4m to $10.7m (+3.4%), an average of +1.7% a year. The sharpest change came in the year to June 2022, when income rose by 147%. Over the whole period it spent 34% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Hope Chicago Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 95th percentile within IL. Charities of a similar size with the same main cause include Brownell Talbot School ($10.7m), Ember Charter School for Mindful Education Innovation & Transformat ($10.7m) and Huntingtons Disease Society of America Inc ($10.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $1.5m (12% of expenses). Other salaries and wages came to $1.2m. At year end it held assets of $31.3m against liabilities of $660k, net assets of $30.7m. It reported 26 employees.