Hope Network

Analysis

Hope Network is a registered charity in United States, based in Grand Rapids, MI. It received its IRS tax-exemption ruling in February 2011, 15 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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 September 2023, Hope Network reported income of $165.6m and spending of $147.1m, spending 89% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $156.1m to $165.6m (+6.0%), an average of +1.5% a year. Over the whole period it spent 93% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Hope Network sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within MI. Charities of a similar size with the same main cause include Westhab Inc ($151.3m), Lutheran Senior Services East ($177.4m) and Preservation of Affordable Housing Inc ($145.5m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 7.5% and program service revenue 92% of the total. Compensation of current officers, directors and key employees was $657k (0.4% of expenses). Other salaries and wages came to $86.3m. At year end it held assets of $145.0m against liabilities of $35.4m, net assets of $109.5m. It reported 3,944 employees.