Reason for Hope Inc

Analysis

Reason for Hope Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in December 2021, 5 years ago. Its declared purposes cover mental health and crisis intervention, which this site groups under health and saving lives. 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, Reason for Hope Inc reported income of $1.2m and spending of $903k, leaving 23% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $551k to $1.2m (+114%), an average of +114% a year. The sharpest change came in the year to December 2023, when income rose by 114%. Over the whole period it spent 59% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Reason for Hope Inc sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 77th percentile within NY. Charities of a similar size with the same main cause include Southampton Volunteer Ambulance Inc ($1.2m), Joshua House Health Center ($1.2m) and Southen Illinois Healthcare Enterprises Inc ($1.2m).

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 $516k (57% of expenses). At year end it held assets of $711k against liabilities of $6,358, net assets of $704k. It reported 4 employees.