House of Hope

Analysis

House of Hope is a registered charity in United States, based in Salt Lake Cty, UT. It received its IRS tax-exemption ruling in June 1973, 53 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, House of Hope reported income of $7.9m and spending of $5.5m, leaving 30% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $4.8m to $7.9m (+65%), an average of +13% a year. The sharpest change came in the year to June 2023, when income rose by 23%. Over the whole period it spent 77% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, House of Hope sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 94th percentile within UT. Charities of a similar size with the same main cause include The Foundation for Jones Hall ($7.9m), Intensive Education Academy Inc ($7.9m) and My Possibilities ($7.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 29% and program service revenue 71% of the total. Compensation of current officers, directors and key employees was $74k (1.3% of expenses). Other salaries and wages came to $2.8m. At year end it held assets of $11.7m against liabilities of $663k, net assets of $11.0m. It reported 133 employees.