Hope Well Foundation

Analysis

Hope Well Foundation is a registered charity in United States, based in Knoxville, TN. It received its IRS tax-exemption ruling in August 2022, 4 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Hope Well Foundation reported income of $101k and spending of $111k, spending 110% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income grew from $10k to $101k (+892%), an average of +892% a year. The sharpest change came in the year to December 2023, when income rose by 892%. Over the whole period it spent 100% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Hope Well Foundation sits at the 28th percentile: it is larger than about 28% of them. Against every charity in United States with reported income it ranks in the 37th percentile, and in the 37th percentile within TN. Charities of a similar size with the same main cause include Campbell Apartments Inc ($101k), Furipaca Inc ($101k) and First Step 4 Life Recovery Center Ltd ($101k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $38 against liabilities of $0, net assets of $38.