Hope Rides

Analysis

Hope Rides is a registered charity in United States, based in Mineral Wells, TX. It received its IRS tax-exemption ruling in August 2007, 19 years ago. Its declared purposes cover recreation and sports, which this site groups under amateur sport and recreation. 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 Rides reported income of $372k and spending of $232k, leaving 38% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $281k to $372k (+33%), an average of +7.3% a year. The sharpest change came in the year to December 2023, when income rose by 76%. Over the whole period it spent 59% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Hope Rides sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 65th percentile, and in the 70th percentile within TX. Charities of a similar size with the same main cause include Combined Cathedral Crews Rowing Club Inc ($372k), Westport Football Association Inc ($373k) and South Florida Youth Basketball Inc ($372k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 93% of the total. At year end it held assets of $2.3m against liabilities of $0, net assets of $2.3m.