Elev8hope

Analysis

Elev8hope is a registered charity in United States, based in Stuart, FL. It received its IRS tax-exemption ruling in August 2012, 14 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Elev8hope reported income of $727k and spending of $538k, leaving 26% of income unspent that year. Across the 6 years on record, from December 2018 to December 2023, income grew from $245k to $727k (+197%), an average of +24% a year. The sharpest change came in the year to December 2021, when income rose by 100%. Over the whole period it spent 76% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Elev8hope sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 78th percentile within FL. Charities of a similar size with the same main cause include Worldwide Opportunities on Organic Farms - USA ($726k), Yarmouth Food Pantry Inc ($727k) and East Madison Community Center Inc ($726k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% of the total. Compensation of current officers, directors and key employees was $200k (37% of expenses). At year end it held assets of $1.4m against liabilities of $590k, net assets of $839k. It reported 2 employees.